In one fell swoop, Sovereign and the Legislature significantly impaired the rights of Sovereign's approximately 87,000 shareholders, not to mention the rights of all shareholders of all Pennsylvania-chartered companies.
More Quotes from Ralph Whitworth:
It defies credulity that they have now disavowed this right that they have promised shareholders. It's just another in a growing list of slaps to the face of their shareholders.Ralph Whitworth
I am pleased to achieve our original objective of obtaining board representation, and I look forward to working constructively with the board and Sovereign's management team to build share value for the future.
Ralph Whitworth
There may or may not ever be a vote on these deals, so what we really want is a vote prior to the consummation of them on our board representation. Then if we have to digest and swallow these deals then we have to.
Ralph Whitworth
Sovereign's board members have repeatedly breached trust with the very shareholders they were elected to represent. These directors must be removed as promptly as possible.
Ralph Whitworth
We're happy with the decision and we're happy that the process will be moving forward.
Ralph Whitworth
I really haven't seen any situations, even with the most aggressive smaller hedge funds, where they have put their interest ahead of the other shareholders.
Ralph Whitworth
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