In a letter to Office Depot Inc., activist investor Starboard Value asked the office supply retailer to immediately revoke its poison pill provision on the grounds that it would limit the influence of shareholders.
Wet Seal Inc. sent a letter to its shareholders saying activist investor Clinton Group is looking to replace most of the retailer's board with its own nominees, Reuters reported.
The Wet Seal Inc. said it has dropped its temporary shareholder rights plan, citing feedback from stakeholders, and has proposed to expand its board to include two nominees of activist investor Clinton Group.