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Arosa Investment Management Alerts Shareholders to the Datatrak Board’s Secretive Adoption of Golden Parachutes and By-law Amendments
Arosa Investment Management Alerts Shareholders to the Datatrak Board’s Secretive Adoption of Golden Parachutes and By-law Amendments.
About this update from Datatrak International, Inc.
[{"type":"text","content":"\n \n Arosa Investment Management LLC, the beneficial owner of approximately \n 9.9% of the shares of Datatrak International, Inc. (OTC:DTRK) that \n initiated a proxy contest and obtained the most votes at two scheduled \n annual meetings that Datatrak management abruptly postponed, is alerting \n shareholders to the Datatrak board’s secretive and shameless last-minute \n adoption of golden parachutes and by-law amendments.\n \n \n The Datatrak board has adopted golden parachutes for each of \n Chairman/CEO Larry Birch, CFO Jennifer Mabe, and VP of Legal Affairs \n Varnesh Sritharan, and has attempted to keep it secret from shareholders.\n \n \n Although Datatrak has widely disseminated at least 17 press releases \n through PRNewswire, Marketwired and the company’s website since this \n proxy contest commenced, Datatrak did not do the same with its secretive \n adoption of golden parachutes and by-law amendments. Instead, Datatrak \n only quietly posted brief summaries of these shameless actions in the \n little-used “News” section of the OTC Markets website.\n \n \n Shareholders can read about these latest shameless actions by the \n Datatrak board at the following link:\n \n \n http://www.otcmarkets.com/stock/DTRK/news/Meeting-of-the-Board-of-Directors-on-December-29--2015--Revised-Paragraph-?id=122603&b=y\n \n \n Arosa believes this is just another shameless and appalling action taken \n by an entrenched board that is long overdue for change. Shareholders can \n read about Datatrak’s endless and unprecedented campaign of entrenchment \n in our proxy materials and press releases. We urge shareholders to \n reject this shameless and self-serving course of behavior and vote for \n the change that is urgently needed in the Datatrak board.\n \n \n If you already voted our BLUE proxy card, you \n do not need to do anything further at this time. Please \n disregard any proxy materials provided by Datatrak. You \n do not need to, and should not, vote “withhold” on Datatrak’s proxy card. \n Shareholders should simply discard Datatrak’s \n proxy materials.\n \n \n If you need any assistance with voting a BLUE \n proxy card for Arosa, please contact our proxy advisor, Alliance \n Advisors, toll-free at 855-737-3183.\n \n \n If you would like to speak with Alex Tabatabai, the Man...