INVESTOR HAMMERS EDGEWATER BOARD
- Friday, 18 October 2013
- News and Analysis
An investor, Ephraim Fields of Echo Lake Capital has issued a letter hammering the independent directors of Edgewater Technology. The letter was quoted at length on the blog, Seeking Alpha, which indicates that Fields has done this before. Among other things, fields says that the three independent directors of the company, which owns Dynamics reseller Fullscope, lack experience in the technology field and have been primarily associated with nonprofits. Fields' letter is quoted further as stating "Collectively you appear to lack many skills critical to a well-functioning board including accounting, capital allocation, corporate finance, M&A, and strategic planning."
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