David Kanen, president of Kwm llc issues letter to the eGain board calling for the formation of a special committee and sale of egan. He also excoriates CEO Ashu Roy.
Retrieved on:
Monday, December 4, 2023
Under CEO Ashu Roy’s leadership, EGAN’s stock is down approximately 40% since the Company’s IPO 24 years ago in 1999 versus the NASDAQ gain of approximately 500%.
Key Points:
- Under CEO Ashu Roy’s leadership, EGAN’s stock is down approximately 40% since the Company’s IPO 24 years ago in 1999 versus the NASDAQ gain of approximately 500%.
- We believe the problem is Ashu Roy and he has failed shareholders!
- One can debate the above as opinion or conjecture, however the Company’s failure to close new deals up until recently corroborates this feedback.
- Earlier this year, KWM made several introductions via email to private equity firms interested in acquiring EGAN.