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SINA board asks shareholders to vote against Aristeia nominees

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SINA board asks shareholders to vote against Aristeia nominees

SINA Corp.'s board asked shareholders to vote in favor of the re-election of director Yichen Zhang at the 2017 annual general meeting on Nov. 3 and vote against stockholder Aristeia Capital LLC's director nominees.

The company accused Aristeia Capital of looking to influence the board by "waging a proxy contest" that seeks to implement "value-destructive ideas and proposals." SINA argued that Aristeia nominee Brett Krause has a conflict of interest as he is an investor in rival Inke. The other director nominee is Thomas Manning.

The company further claimed that the shareholder has delayed information about and denied access to its director nominees, and has violated federal securities laws.

SINA also defended its business strategy and cited "compelling" business rationale to say that Weibo Corp. will remain an integral part of SINA Group.