New Turn and Pacification in IGT – Ader Proxy Conflict

A big public proxy contest prior to International Game Technology's (IGT) 2013 annual meeting of shareholders, when the Ader Group attempted to win four seats on the IGT board, has taken a new turn judging by the latest statement from IGT in which it says it has reached a deal with members of the Ader Group who have agreed to observe certain (unspecified) standstill provisions for four years.

Then, all claims related to the proxy contest will be released by both sides and IGT will reimburse the Ader Group for expenses incurred in the Proxy challenge up to an amount of $2.5 million. On the other side, the Ader Group has expressed that it "strongly supports IGT's current direction and recognizes the significant contributions under the leadership of Patti Hart, her management team and the Board of Directors to advance the Company's business, strategy and corporate governance practices."

On the other side, IGT acknowledged Charles Mathewson’s instrumental role in driving IGT's leading market share and creating significant shareholder value during a dynamic growth phase for the Company and the industry.

lcb activities in the last 24 hours

  • 30
    new members
  • 628
    members online
  • 17313
    guests online
  • 145
    new posts
  • 5005
    free games played
Join the club

Highest Community Rated Online Casinos

Swipe left or right to see more

Latest forum posts

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search Results