Investor Group Challenges Atari Changes

Andy Chalk

One Flag, One Fleet, One Cat
Nov 12, 2002
45,698
1
0
Investor Group Challenges Atari Changes


Investor Atari [http://www.coghillcapital.com/].

Infogrames yesterday [http://www.escapistmagazine.com/news/view/77662].

In an Infogrames' [http://www.sec.gov/] treatment of the Issuer as its private source of assets and funds, and its oppression of the public shareholders." Coghill Capital holds over 1.2 million shares in Atari.

The company demanded the reconstitution of Atari's board with a majority of independent directors, an independent audit committee and "an end to the sweetheart arrangement with Infogrames," as well as compensation for "the serious damage they have caused both the Issuer and its public shareholders." They also said they would not acquire further shares or approve significant corporate transactions in the future if their demands were not met.


Permalink