Activist investor Shah Capital has announced its intention to vote against the re-election of Novavax’s board members and its executive compensation plan at the biotech’s forthcoming annual meeting, escalating pressure on the vaccine maker for strategic changes, according to a. Report by Reuters.
The report cites a letter from the hedge fund’s founder Himanshu Shah as calling on Novavax to reduce operational costs and consider repurchasing 10–20 million shares. The fund, which holds a 9% stake i...
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