Novavax (NVAX) Shareholders Encouraged by Shah Capital to Reject Three Directors: A Crucial Vote for Crypto Investors

full version at en.coinotag

Before you reading,
Don't miss coins like PEPE again! Click here to find new PEPEs!

Hedge fund Shah Capital has urged Novavax shareholders to vote against the re-election of three directors and proposals related to executive compensation.
Shah Capital, the third-largest shareholder of Novavax, has expressed concerns over mismanagement at the biotech company.
The hedge fund plans to vote against directors Richard Douglas, Margaret McGlynn, and David Mott at Novavax’s shareholder meeting in June.

Shah Capital, a major shareholder of Novavax, is pushing for a board shakeup at the COVID-19 vaccine maker, expressing concerns over its management and executive compensation.

Shah Capital’s Push for Change

Shah Capital, which holds a near 7.5% stake in Novavax, has been vocal about its dissatisfaction with the company’s management. The hedge fund believes that Novavax is undervalued and continues to suffer from poor profitability. Last year, Novavax had raised doubts about its ability to remain in business, hurt by manufacturing snags and regulatory hurdles that delayed the entry of its protein-based vaccine to the market.

Concerns Over Mismanagement

Last month, Shah Capital expressed concerns over mismanagement at the Maryland-based biotech and urged it to adopt a marketing strategy to target consumers who are hesitant to receive mRNA vaccines. The hedge fund had previously stated its plans to put forward two of its own candidates for appointment to Novavax’s board, but did not formally submit any nominations.