Manley Asset Management, L.P. Supports the Ramius Group Candidates for Election to the CPI Corp. (CPY:NYSE) Board of Directors
03 July 2009 - 3:38AM
Business Wire
Ramius Value and Opportunity Fund today received the following
expression of support from Manley Asset Management, L.P., a well
respected investment management firm:
� Dear Peter, � I am writing you to inform you that Manley Asset
Management, L.P. supports the Ramius Board proposal for CPI Corp
(Gold Proxy). � As long-term investors, we believe a more
independent and balanced board with significant retail experience
will best serve the company and its shareholders. � Currently,
Manley Asset Management controls 237,000 shares of CPI Corp. �
Please don�t hesitate to contact me with any questions or comments.
� Sincerely, Lawrence Manley � J. Lawrence Manley, Jr., CFA Manley
Asset Management, L.P. �
Commenting on the above letter, Peter Feld, a Managing Director
at Ramius and a current board member of CPI stated, �We are pleased
that Manley Asset Management has recognized the real issues we have
brought to light during this election contest and has decided to
fully support the Ramius candidates. My re-election and the
election of Joe Izganics to the Board of CPI will provide the
significant retail experience and truly independent shareholder
representation we believe is needed on the CPI Board. We gratefully
welcome Manley�s public support and the support of all shareholders
who have already voted on the GOLD proxy card.�
About Ramius LLC
Ramius LLC is a registered investment advisor that manages
assets in a variety of alternative investment strategies. Ramius
LLC is headquartered in New York with offices located in London,
Tokyo, Hong Kong, Munich, and Luxembourg.
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