Riot Comments on Bitfarms’ Adoption of Shareholder-Unfriendly Poison Pill
Riot Platforms, Inc. (RIOT)
Last riot platforms, inc. earnings: 8/8 04:30 pm
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Source: Business Wire
Poison Pill Comes Just Days After Riot Privately Urged Bitfarms to Consult with Riot and Other Large Shareholders on New Board Members and Stressed that Chairman Nicolas Bonta Must Resign to Address Corporate Governance Concerns CASTLE ROCK, Colo.--(BUSINESS WIRE)--Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot”) today commented on the shareholder rights plan (the “Poison Pill”) unilaterally adopted by Bitfarms Ltd. (NASDAQ/TSX: BITF) (“Bitfarms” or the “Company”), which takes immediate effect and effectively prevents any shareholder from acquiring 15% or more of Bitfarms’ common shares without making a formal take-over bid for all of the Company’s shares. The 15% trigger is in direct conflict with established legal and governance standards, including those published by leading proxy advisory firms Institutional Shareholder Services Inc. and Glass, Lewis & Co., and is further evidence of the Bitfarms Board of Directors (the “Bitfarms Board”) disregarding good corporate governance.Jason
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News
- Riot Requisitions Special Meeting of Bitfarms Shareholders and Nominates Three Highly Qualified, Independent Directors to Bring Urgently Needed Change to Bitfarms BoardBusiness Wire
- Is Riot Blockchain a No-Brainer Buy After the Bitcoin Halving? [Yahoo! Finance]Yahoo! Finance
- Riot Platforms, Inc. Reports Beneficial Ownership of 14% in Bitfarms Ltd.Business Wire
- Kerrisdale Capital Hits Riot Platforms With Short Sell Report: Details [Yahoo! Finance]Yahoo! Finance
- Riot Announces May 2024 Production and Operations UpdatesGlobeNewswire
RIOT
Earnings
- 5/1/24 - Beat
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Sec Filings
- 6/24/24 - Form 8-K
- 6/18/24 - Form 8-K
- 6/13/24 - Form 8-K
- RIOT's page on the SEC website