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BOSTON (Reuters) - Hedge fund Indaba Capital said on Tuesday it had nominated two directors to Benefitfocus Inc’s board, and the software company responded a few hours later, saying it had named a veteran human resources executive as a new independent director.
The two sides have been trading barbs for weeks over the company’s future, high turnover in its executive suite and who should be sitting on its board.
San Francisco-based Indaba five weeks ago called on Charleston, South Carolina-based Benefitfocus to sell itself following years of poor returns. On Tuesday, it increased the pressure by nominating two men with technology and software expertise to the company’s board. Shareholders will vote on whether to add them to the board.
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