Pirate Demands Governance Changes at Cutter & Buck

Summary

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NORWALK, Conn. (HedgeWorld.com) - Pirate Capital LLC, the largest shareholder of Seattle-based Cutter & Buck, Inc., has issued a list of demands for corporate governance reforms at that clothing designer and marketer.

In a July 20 letter to Cutter & Buck's directors, Pirate said it wants a "poison pill" plan terminated more quickly than now scheduled. It also wants the elimination of supermajority requirements in the corporate charter, of the classification of the board of directors, and of the existing restriction on cumulative voting for directors.

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Extract

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Pirate Demands Governance Changes at Cutter & Buck

Furthermore, Pirate wants all these actions taken by Aug. 15, or it will "provide the requisite advance ...

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