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0 -0.000792055078291736 0.00123885537886634 0.00123885537886634 0.00326976583602424 0.00733158675034005 -0.00891569690692352 -0.00282296553544964
Stock impact report

Novavax's top shareholder Shah Capital ramps up efforts for board shakeup [Yahoo! Finance]

Novavax, Inc. (NVAX) 
Last novavax, inc. earnings: 3/11 04:17 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.novavax.com/investor-relations
Company Research Source: Yahoo! Finance
to executive compensation, ramping up its efforts for a board shakeup at the COVID-19 vaccine maker. Shah Capital, which currently owns a near 7.5% stake in Novavax and is its third-largest shareholder, reiterated that the company was "undervalued and continues to suffer from poor profitability". The top shareholder had expressed concerns about mismanagement at the Maryland-based biotech and nominated two of its own candidates for the board last month. It had also urged Novavax to adopt a marketing strategy to target consumers who are hesitant to receive mRNA vaccines. The hedge fund said in a regulatory filing on Monday that it plans to vote against directors Richard Douglas, Margaret McGlynn and David Mott at Novavax's upcoming shareholder meeting in June. "We believe that fresh perspectives are desperately needed in the boardroom to steer Novavax towards sustainable profitable growth," it said in a statement. Novavax had raised doubts about its ability to remain in busine Show less Read more
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