Dynavax Boardroom Battle: ISS Advocates for Reelecting Directors
In a recent boardroom clash, Institutional Shareholder Services has advised Dynavax Technologies' shareholders to support the current directors, opposing Deep Track Capital's nominations. ISS argues that Deep Track has not demonstrated a significant need for change. The shareholder vote is crucial for Dynavax's governance direction.
In the latest development in corporate board disputes, Institutional Shareholder Services (ISS) has stepped into the fray advising shareholders of Dynavax Technologies. The proxy advisory firm has recommended reelecting the existing board members.
This call comes in the wake of Deep Track Capital's proposal to install four new directors, a move that ISS contends is unwarranted. The advisory firm noted that Deep Track Capital has not provided a solid argument for necessary board changes.
As the shareholders prepare to vote, the direction of Dynavax's governance hangs in the balance, with ISS's guidance becoming a pivotal point in this crucial decision-making process.
(With inputs from agencies.)
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