Lakeview Investment Group Issues Statement on Annual Meeting Results of TESSCO Technologies
05 August 2021 - 6:01AM
Lakeview Investment Group & Trading Company, LLC, which
beneficially owns approximately 11.6% of the outstanding shares of
TESSCO Technologies Incorporated (NasdaqGS: TESS) (“Tessco” or the
“Company”), making it Tessco’s second largest stockholder, today
issued the following statement regarding the results of Tessco’s
2021 annual meeting of stockholders:
“Tessco stockholders have spoken and delivered a
clear and convincing vote of no confidence in Chairman Paul
Gaffney, with approximately 53% of the votes cast against his
re-election to the Board. It is now incumbent on the Board to carry
out the will of stockholders and accept Mr. Gaffney’s resignation
without delay. We also believe that the annual meeting results
(including stockholders’ staunch opposition to CEO Sandip Mukerjee)
represent a strong statement of support for our view that a sale of
the Company is in the best interests of all stockholders.
Accordingly, we reiterate our call for the Board to immediately
commence a full and fair process to sell the Company with the
singular goal of maximizing value for all stockholders.”
About Lakeview Investment
Group
Lakeview Investment Group is a Chicago-based
investment manager, founded in 2004, with a focus on small- and
mid-cap companies. Lakeview’s strategy focuses primarily on
long-term investments in companies trading at significant discounts
to its estimate of intrinsic value. On select occasions,
Lakeview engages directly with company management to help drive
shareholder value.
Media and Investor Contact
Lakeview Investment Group & Trading Company,
LLCAri Levy, ari@lakeviewig.comTim Won, twon@lakeviewig.com(312)
245-2910
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