Salem Radio Network News Wednesday, June 29, 2022

Science

Jana Partners plans to sue Zendesk over annual meeting date

(Reuters) – New York-based activist investment firm Jana Partners said on Wednesday it intends to sue software company Zendesk Inc after it failed to set a date for its 2022 annual meeting.

The hedge fund said the “failure” was “inexcusable” and the company’s board had “inflicted significant damage” on its shareholders.

Jana Partners had in April pushed Zendesk to set a date for the annual meeting.

Zendesk did not immediately respond to a request for comment.

Since 2017, Zendesk’s annual meeting has been held between May 16 and May 29, regulatory filings showed.

Jana Partners earlier nominated four directors to the board.

In February, Zendesk shareholders rejected the company’s plans to buy SurveyMonkey-parent Momentive Global.

(Reporting by Akash Sriram in Bengaluru; Editing by Maju Samuel)

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