KWM writes letter to LAZY board challenging directors to represent minority shareholders
Lazydays Holdings, Inc. (LAZY)
Company Research
Source: GlobeNewswire
TAMPA, FL, May 31, 2022 (GLOBE NEWSWIRE) -- The following is a statement issued by Dave Kanen, who serves as Managing Director at Kanen Wealth Management: Dear Lazydays Inc. Board, Approximately ten weeks have passed since your ill-advised, reflex rejection of B. Riley’s $25 per share bid for our company. Since that time, you have not articulated a value creation plan for our enterprise as a continuing entity. You have not repurchased a sufficient quantity of shares to meaningfully grow EPS. You have not run a formal strategic alternatives process. You have not adequately represented non-Coliseum Capital shareholders in regards to Chair Shackelton’s 8% dividend to the detriment of minority shareholders. The state of affairs is such, at the present time that shares are trading 10 points below the recent bid and now need to climb almost 70% to be at parity with the previous bid for the company. It is very hard to interpret your director slate as being filled with WINNERS. In my opi
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