(Reuters) Hedge fund Indaba Capital has nominated two directors to Benefitfocus Inc’s board five weeks after publicly calling on the benefit management software company to sell itself following years of poor returns and high turnover in the executive suite. San Francisco-based Indaba, which owns a roughly 9.5% stake in Benefitfocus, criticized the Charleston, South Carolina, company’s sluggish stock price during booming markets and warned that shareholders will lose confidence if nothing changes.
Hedge fund Indaba Capital nominates two to Benefitfocus board
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