Baines Creek Comments on Legacy Reserves Annual Shareholder Meeting Results
LEGACY RESERVES (LGCY)
Last legacy reserves earnings: 5/9 07:32 pm
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Source: PR Newswire
AUSTIN, Texas, June 10, 2019 /PRNewswire/ -- Baines Creek Capital, LLC, an Austin-based investment firm, and its affiliated investment funds (collectively "Baines Creek" or "we"), commented today on the voting results from the 2019 Annual Meeting of Stockholders of Legacy Reserves, Inc. ("Legacy Reserves" or the "Company") (Nasdaq: LGCY) held on June 6, 2019 (the "Annual Meeting")."On Thursday, June 6, 2019 the Company's stockholders sent a resounding message of discontent with the status quo at Legacy Reserves. The results of the Annual Meeting clearly reflect the widespread dissatisfaction of stockholders with the disastrous performance under the watch of the current Board of Directors, as well as the recent actions taken by the Board of Directors to frustrate stockholder democracy. As previously announced on May 31, 2019, Baines Creek delivered an open letter to stockholders announcing its intent to refrain from voting its shares to prevent the Company from reaching a quorum at t
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