Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
Pittsburgh Tribune Review – Tollgrade Communications Inc. is challenging the independence of two nominees for seats on its board of directors because a dissident hedge fund group is paying them to run as part of its bid for control.
Tollgrade, based in Harmar, said the fact that Ramius Group is paying $40,000 for two people to serve as nominees to the board could represent a conflict of interest.
The telecommunications services company is girding for a showdown when shareholders gather to vote at their annual meeting on Aug. 5.
