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Report: 2 shareholders support Altisource Residential in management row

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Report: 2 shareholders support Altisource Residential in management row

'smanagement dispute with activist shareholders could potentially draw thesupport of two investors.

ShareholdersPutnam Investments and Luxor Capital Partners, which own 14.9% and 7.6% ofAltisource Residential, respectively, are in favor of the management'sstrategy, Bloomberg News reported April 11, citing people familiar with thematter.

Thesupport comes in the wake of a spat with a group of shareholders that areseeking control of the company's board with the of three independentdirectors at its 2016 annual meeting, which is expected to be held in May. Thecompany expressed disappointmentover the public nomination while agreeing to review the proposal.

Anothershareholder, Luxembourg-based AltisourcePortfolio Solutions SA, reported a 5% beneficial ownership inAltisource Residential, according to an April 11 .