Spear Point Capital Fund LP and related entities responded toa letter from Sarah Fay, chair of TheStreetInc. board's nominating and corporate governance committee, over theclaim that the investor group's notice for the nomination of two board members was defective.
An April 15 letter from Fay stated that since the stockholdersdid not demonstrate stock ownership as required by the corporation's policies governingstockholder nominations, they would not be allowed to nominate Johannes Roth andAlexius John Benedict Fenwick to the company's board at the annual meeting, accordingto an amended Schedule 13D filed May 2.
The investor group, meanwhile, sent a letter April 29 to claimthat the assertions were incorrect, and the stockholders did provide evidence ofownership of common stock as per policies governing stockholder nominations, inaddition to all information required under such policies, before the deadline forstockholder nominations.
Additionally, the stockholders sought permission to proceed withtheir nominations at the annual meeting.