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ISS recommends shareholders vote for PulteGroup board nominees

Institutional Shareholder Services has recommended thatPulteGroup Inc.shareholders vote for all of the board of directors' proposed nominees at thecompany's upcoming annual meeting, scheduled for May 4.

James Grosfeld,who sided with founder Bill Pulte in seeking to CEO Richard Dugas, was notnominated to stand for reelection to the board. He resigned from the board, effectiveApril 12.

In a move that likely means he is not backing down, BillPulte has reportedly hiredlawyers from a firm specializing in shareholder activism.