INVESTOR WANTS CDC SOFTWARE CEO OUSTED
- Tuesday, 06 December 2011
- News and Analysis
The strange tale of CDC Software continues as an investment firm has demanded the board of directors fire CEO Peter Yip. Meanwhile, NASDAQ is taking action to delist the company's stock and last month Deloitte & Touche resigned as outside auditor. Wynnefield Capital Funds, which owns 12.3 percent of the public float of CDC Software's Class A Common Stock, took uncommonly strange language over the board's decision to place Yip on medical leave instead of firing him after he was found to have lied under oath. Whew!
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