HomeStreet Inc. will count votes on activist shareholder Roaring Blue Lion Capital Management LP's proxy cards on a provisional basis, subject to the final determination on whether those cards are valid.
The company reiterated its view on an interpretative letter issued by Washington State Department of Financial Institutions, saying there is a "substantial risk" that the company will not be able to count any votes on Blue Lion's proxy card, including for quorum purposes.
Blue Lion disagreed that its proxy card may be invalid, but it has encouraged investors to vote on HomeStreet's proxy card to ensure all votes are counted.
