Barrett Business Services Responds to Statements by Sherertz Group
Barrett Business Services, Inc. (NASDAQ: BBSI) announced today that it continues to be willing to act upon a request for a special meeting of stockholders by Kimberly J. Jacobsen Sherertz and her group if BBSI receives a request that complies with Maryland law and BBSI's bylaws.
Anthony Meeker, BBSI's chairman of the board, emphasized, "Contrary to Ms. Sherertz's most recent SEC filing, the Board has never stated, publicly or privately, that it will not call a special meeting of stockholders. In fact, management and the Board have been diligently preparing for such a meeting in light of repeated statements by Ms. Sherertz's attorneys, as recently as last Friday, that a revised request from holders of record of the required percentage of shares would be submitted shortly. Especially in light of the significant time, expense and distraction involved in holding a special stockholders meeting, the Board must assure that all legal requirements have been met consistent with its duty to act in accordance with the law and in the best interests of the company."
Mr. Meeker continued, "We must conclude from yesterday's 13D filing either that Ms. Sherertz is unable to produce the required documentation described in our counsel's January 13 letter to her attorneys or that she and her advisers have decided to drop their request for a special meeting for other reasons. For them to act as if we denied a valid request is misleading to our other shareholders."
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