(Reuters) Hedge fund Maglan Capital demanded on Wednesday that telecom carrier FairPoint Communications remove four board members, stepping up pressure on a company whose shares it believes could trade 70 percent above their current value. In a letter sent to the board and FairPoint Chief Executive Paul Sunu and seen by Reuters, the hedge fund’s two founders said they wanted board members Dennis Austin, Michael Mahoney, David Treadwell and Wayne Wilson to “immediately tender their resignations” and warned they would push for a special meeting if no action was taken.
Hedge Fund Maglan Demands Removal of Four Fairpoint Board Members
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