Pirate Capital Loses Place on Cutter & Buck (CBUK) Board
In a recent filing with the SEC, Cutter & Buck (Nasdaq: CBUK) noted that former Pirate Capital analyst David A. Lorber informed them of his decision to withdraw as a nominee for Director at the upcoming Annual Meeting of Shareholders to be held on October 19, 2006.
The Board does not intend to present a replacement nominee.
Lorber was one of the casualties of Pirate's recent shake-up.
Thomas O'Riordan, an industry expert recommended by Pirate, is still a nominee.
Mr. O'Riordan is a consultant to the footwear, apparel and sporting goods industries and was recently a senior executive anddirector with Fila. Mr O'Riordan is also a member of the Board of Directors of Innovo Group (Nasdaq: INNO), a publicly traded apparel company.
According to a recent filing, Pirate owns a 13.5% stake (1.4M shares) in Cutter & Buck.
NOTE: This was brought to our attention from a post at Wall $treet Folly, which cited a Seattle Times article.
The Board does not intend to present a replacement nominee.
Lorber was one of the casualties of Pirate's recent shake-up.
Thomas O'Riordan, an industry expert recommended by Pirate, is still a nominee.
Mr. O'Riordan is a consultant to the footwear, apparel and sporting goods industries and was recently a senior executive anddirector with Fila. Mr O'Riordan is also a member of the Board of Directors of Innovo Group (Nasdaq: INNO), a publicly traded apparel company.
According to a recent filing, Pirate owns a 13.5% stake (1.4M shares) in Cutter & Buck.
NOTE: This was brought to our attention from a post at Wall $treet Folly, which cited a Seattle Times article.
posted by Lon at 10:57 AM
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