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Morris County Commissioner Work Session Meeting Scheduled for June 25, 2025.
ByAinvest
Tuesday, Jun 24, 2025 5:25 pm ET1min read
The Morris County Board of County Commissioners will hold a work session on June 25, 2025, at 5:00 PM. The meeting will be held at the Administration and Records Building in Morristown, NJ. The Board sets policies for the operation of county departments and has broad powers to regulate county property, finances, and affairs. There will be no public comment period via Webex, and all comments must be made in person. The meeting link and phone numbers are provided.
AstroNova Inc. (NASDAQ: ALOT) is facing a proxy contest from activist investor Askeladden Capital Management, as revealed in a recent letter to shareholders. The activist investor has accused the company's board of breaching confidentiality during private negotiations and prioritizing entrenchment over shareholder interests. The letter outlines a proposal that would see Askeladden sign a standstill agreement, receive no board representation, and be granted observer status with no voting rights.Askeladden Capital Management, represented by Samir Patel, claims that the board's proposal is one-sided and does not address the company's recent underperformance. The activist investor points to a significant decline in shareholder value following the MTEX situation, which they term a "disaster." The proxy contest highlights classic tensions between incumbent boards and activist investors, with Askeladden pushing for CEO replacement, board refreshment, and exploration of strategic alternatives, including a potential sale.
The proxy fight comes as AstroNova's FY25 earnings reportedly fell below FY24 levels, with guidance suggesting continued underperformance. The board's resistance to Askeladden's proposals has led to a breakdown in confidential negotiations, signaling that the contest will likely intensify as the annual meeting approaches. Askeladden has urged shareholders to vote using their GOLD proxy card to elect new directors focused on maximizing shareholder value.
References:
[1] https://www.stocktitan.net/news/ALOT/astro-nova-s-board-stonewalls-meaningful-i8ya8uxdfnm9.html
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