Dear Fellow Innoviva Shareholders,
The Innoviva Annual Meeting will take place on
- ISS, Glass Lewis and Egan-Jones recommend that you vote on Sarissa’s GOLD PROXY CARD
- ISS, Glass Lewis and Egan-Jones recommend that you do not vote on management’s white card
“…management has not been able to provide evidence that
To make matters even worse,
Unfortunately, the current board appears incapable of providing the necessary oversight of the CEO who dominates decision-making.
Our nominees –
ISS supports all three of our nominees. ISS did a great job of cutting through management’s attempts to complicate a very simple matter:
“[Sarissa] has made a compelling case that change at the board level is warranted. The primary issue to be addressed is the company’s apparent misalignment between operating expenses and the company’s business objectives. There are also governance shortcomings rooted in a lack of transparency and communication, suggesting that the company would benefit from additional shareholder oversight.”
Glass Lewis supports two of our nominees. Glass Lewis’ thorough and thoughtful analysis justifies its summation:
“Upon full review, we believe [Sarissa] has both provided a reasonable case for minority change to the incumbent board and submitted candidates who appear reasonably suited to address the concerns raised across Sarissa’s materials. In turn, we believe the board has offered a selectively structured, unconvincing rebuke of material concerns surrounding
And Egan-Jones strongly endorses our entire slate:
“We believe that the proposed new members of the Board will fix the Company’s culture in misallocating its capital as evidenced by
INNOVIVA DOES NOT MARKET OR SELL ANY DRUGS. IT JUST COLLECTS ROYALTIES.
SO WHY IS INNOVIVA’S SPENDING AND COMPENSATION SO EXORBITANT?
IT IS TIME FOR INNOVIVA TO BE OPTIMIZED FOR SHAREHOLDERS.
Time is of the essence. We urge you to VOTE THE GOLD PROXY CARD to help us fix the problems at Innoviva. If you want to follow the recommendations of ISS, Glass Lewis and Egan-Jones and vote for Sarissa nominees YOU MUST VOTE ON THE GOLD CARD AND YOU CANNOT VOTE THE WHITE CARD. Returning a white card, even if you withhold on
If you have any questions regarding your GOLD proxy card or need assistance in voting, please contact our proxy solicitor:
STOCKHOLDERS CALL TOLL−FREE: (800) 549−6746
BANKS AND BROKERAGE FIRMS CALL: (212) 269−5550
CERTAIN INFORMATION CONCERNING THE PARTICIPANTS
Consent of the author and publication to use the quotations contained in the material filed herewith as proxy soliciting material was neither sought nor obtained.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sarissa-capital-urges-shareholders-of-innoviva-inc-follow-the-recommendations-of-iss-glass-lewis-and-egan-jones-vote-on-the-gold-card-for-sarissa-nominees-300439409.html