Business
LifeVantage Files Definitive Proxy Statement
Issues Letter to Stockholders Highlighting the Company’s Transformation and Progress with LV360 Plan Board Comments on the Radoff-Sudbury Group’s Distracting
About this update from Lifevantage Corporation
[{"type":"text","content":"Issues Letter to Stockholders Highlighting the Company’s Transformation and Progress with LV360 Plan Board Comments on the Radoff-Sudbury Group’s Distracting and Costly Campaign to Remove and Replace Highly Qualified, Experienced Directors, Giving them Outsized and Unwarranted Representation on the Board Board Urges Stockholders to Vote on the WHITE Universal Proxy Card “FOR” LifeVantage’s Seven Highly Qualified Director Candidates SALT LAKE CITY, Sept. 25, 2023 (GLOBE NEWSWIRE) -- LifeVantage Corporation (Nasdaq: LFVN) (“LifeVantage” or the “Company”), a leading health and wellness company with products designed to activate optimal health processes, filed its definitive proxy statement on September 22, 2023 with the U.S. Securities and Exchange Commission (the “SEC”) in connection with its 2024 annual meeting of stockholders (the “Annual Meeting”), which is scheduled to be held on November 6, 2023. Stockholders as of the close of business on September 27, 2023 will be entitled to vote at the Annual Meeting. LifeVantage today also sent a letter to stockholders. In the letter, the Company highlights: CEO Steve Fife’s continued execution of the LV360 plan, which is delivering value to ALL LifeVantage stockholders—since the announcement of LV360, LifeVantage shares have outperformed the Russell 2000 Index and its Peer Median by 71.9 and 82.9 percent, respectively;The Company’s balanced capital allocation strategy that is returning value to stockholders through share repurchases, regular dividends and a special dividend;Our commitment to Board refreshment, including appointing five of the Board’s current directors since 2017;Repeated engagements with the Radoff-Sudbury Group to avoid a distracting proxy fight; andThe Radoff-Sudbury Group is seeking outsized board representation (40% of the Board relative to a 12% ownership stake). They are also threatening to replace three of our highly qualified directors with candidates with apparently inferior skillsets and potential conflicts of interest, whose only articulated plans to-date are already being implemented by the Company. LifeVantage is continuing to execute on its LV360 plan—a plan that is working and is delivering value to all LifeVantage stockholders. Protect your investment and reject all three nominees proposed by the Radoff-Sudbury Group by voting the WHITE universal proxy c...