Clinton Group Issues Release Calling on ValueVision to Treat Employees, Vendors Fairly
Clinton Group, Inc. ("Clinton Group")
today called upon ValueVision Media, Inc. (Nasdaq: VVTV) to assure its vendors
and employees that they can exercise their voting rights at the Company's
upcoming June 18 annual meeting without fear of reprisal.
"We are disturbed that we have heard from multiple employees and vendors that
they are afraid to vote their shares for us because they fear management will
retaliate against them," said Gregory P. Taxin, President of Clinton Group.
"We believe every shareholder is entitled to vote without coercion and we
welcome the participation of the Company's employees and vendors in this
Clinton Group's nominees have committed that they will not treat any employee
or vendor who votes against the nominees differently than employees and
vendors who side with the Clinton Group, in the event the Clinton Group
nominees are elected. Clinton Group believes the Company should provide the
"The Company's management and Board should assure the Company's valuable
employees and vendors that they may freely exercise their voting rights
without fear of retaliation," continued Mr. Taxin. "In my opinion, anything
less is an abuse of corporate position and inconsistent with Mr. Stewart's
June 12 email to employees."
Employees and vendors can vote shares held at brokerage firms online and
anonymously in favor of the Clinton Group nominees by using the "control
number" on the GOLD proxy card. Employees and vendors with "registered" shares
can scan and email those ballots to Clinton Group (VVTV@okapipartners.com).
Alternatively, employees and vendors can come to the Company's annual meeting
to vote (on June 18 at 9 AM at the Company's headquarters) or meet the Clinton
Group team at the Minneapolis Marriott Southwest in Minnetonka, Minnesota, on
Tuesday, June 17 from 5 to 7 pm at Stacy's Grill, where they can fill out a
ballot or drop one off.
Clinton Group encourages its fellow shareholders to review the materials it
has prepared, which are available at www.AddValueAndVision.com.
Shareholders with questions should contact Bruce Goldfarb or Lydia Mulyk at
Okapi Partners LLC at (212) 297-0720, Toll-Free (855) 305-0857, or
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