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John Clendening Joining Juxtapose As Founder & CEO Of New Company In Stealth
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John Clendening Joining Juxtapose As Founder & CEO Of New Company In Stealth
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John Clendening Joining Juxtapose As Founder & CEO Of New Company In Stealth
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Former Blucora CEO Says Firm Is Rewriting History in SEC Filings As Blucora continues to face a proxy battle with activist investor Ancora, its former CEO John Clendening accuses the company of filing false statements.
Investment advisory firm and shareholder Ancora is waging a public proxy battle with executives at Blucora, the parent company of tax-centric broker/dealer Avantax Wealth Management. Ancora claims the company is mismanaging its broker/dealer business and causing many firms to leave.
This week, Blucora’s former CEO John Clendening, who abruptly stepped down from that firm in January 2020, came out with his own statement, accusing his former employer of filing “inaccurate and misleading 8-Ks” in its response to Ancora’s charges. In essence, those recent filings re-write history, he says, criticizing the company’s strategy under his management in contrast to more the more positive statements found in filings to the Securities and Excha
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DALLAS, April 13, 2021 /PRNewswire/ Former Blucora CEO John Clendening is compelled to set the record straight. Blucora s Board of Directors is in a protracted proxy battle with Ancora Holdings, Inc. Ancora is seeking to replace four sitting Blucora Board members Georganne Proctor, Mary Zappone, Steven Aldrich, and John MacIlwaine. In response to Ancora s efforts to change Blucora s Board, Blucora filed inaccurate and misleading 8-Ks.
Blucora s statement in the March 15, 2021 8-K that since it became clear during a four-day business and strategy review by the Board in September 2019, the Company was no longer on the optimal path for long-term value creation, the Blucora Board has taken aggressive actions, including: replacing the CEO and CFO in early 2020, is simply not true. Other attendees can confirm that at that meeting the Board thought just like Blucora s January 16, 2020 press release and 8-K stated that Blucora was on t