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NexPoint asks Medley Capital shareholders to elect 2 director nominees

NexPoint Advisors LP advised Medley Capital Corp. shareholders to elect its independent director nominees, Mark Goglia and Stephen Mongillo, to Medley Capital's board at its June 4 annual meeting.

NexPoint Advisors said, if elected, the nominees will replace Seth Taube and Arthur Ainsberg on Medley's board, who were among the directors found guilty of violating their fiduciary duties by the Delaware Chancery Court with regards on the planned deal between Medley Capital, Sierra Income Corp. and Medley Management Inc. Goglia and Mongillo are unaffiliated with any members of the NexPoint Group.

David Lorber and Lowell Robinson were appointed to Medley Capital's board to fill the vacancies resulting from the resignations of Mark Lerdal and John Mack, and two additional independent directors were important to protect stockholder interests, NexPoint Advisors said.

NexPoint in April submitted an improvised bid to be Medley Capital's external investment adviser, which increased the payment to the latter's shareholders and the amount of common shares it will purchase. Marathon Asset Management LP has also made a separate bid to be Medley Capital's external investment adviser and also called the latter's shareholders to vote down the current deal.