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BRIEF-Ancora Advisors fights to maximize value for Edgewater stakeholders
December 22, 2016 / 2:28 PM / 9 months ago

BRIEF-Ancora Advisors fights to maximize value for Edgewater stakeholders

Dec 22 (Reuters) - Ancora Advisors:

* Ancora Advisors - “believes that urgent and substantial change” is needed on Edgewater technology board

* Ancora Advisors - has “serious concerns” regarding way co has been managed by certain senior executives, specifically Edgewater’s CEO, Shirley Singleton, CTO, David Clancey

* Ancora Advisors-believes board has failed to “adequately explore ”all strategic opportunities to maximize stockholder value during co’s formal review of strategic alternatives

* Ancora Advisors-urges shareholders to join in seeking to remove four current directors of Edgewater Paul Flynn, Paul Guzzi, Michael Loeb, Wayne Wilson

* Ancora advisors-believes co’s “bloated” SG&A costs, declining consultant utilization rates, excessive compensation to Singleton, Clancey impacted stock price

* Ancora Advisors LLC - a 9.5% shareholder of Edgewater technology inc filed a consent solicitation with sec

* Ancora advisors- “consent solicitation if successful would be to remove four existing members of board of directors of Edgewater”

* Ancora Advisors- “believes that board failed to adequately vet opportunity to monetize parts of company”

* Ancora Advisors - urges shareholders to elect Ancora’s four nominees Matthew Carpenter, Frederick Disanto, Jeffrey Futherford, Kurtis Wolf Source text for Eikon: Further company coverage:

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