WW Investors, LLC, an entity controlled by activist investors Michael Ashner and Steve Witkoff, called for the ouster of the NY REIT board ahead of a vote on a liquidation plan for the company.
Ashner and Witkoff, who included themselves in a proposed roster of replacement board members, expressed concern that the companys leaders may deliberately delay the liquidation process.
Schorsch, Happel and Co. have a striking predisposition to place their interests ahead of those of NYRT stockholders generally. We have a deep, reasonable suspicion that the board and management will both prolong the liquidation process in order to milk the company for excessive advisors and managers fees regardless of how inefficient and unfair t…
Read the full article at: http://rew-online.com/2016/08/29/activist-investors-renew-call-for-board-ouster-ahead-of-ny-reit-liquidation-vote/
