{"id":5465,"date":"2006-12-27T00:00:00","date_gmt":"2006-12-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"gravity-shareholders-back-2-executives","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2006\/gravity-shareholders-back-2-executives.html","title":{"rendered":"Gravity shareholders back 2 executives"},"content":{"rendered":"<p>Boston Globe &#8211; South Korean online game developer Gravity Co. Ltd. said Tuesday its shareholders rejected a proposal from U.S. hedge funds to remove two senior executives from its board ofdirectors.<\/p>\n<p>  Ramius Capital Group and Moon Capital Management on Dec. 18 requested the removal of Chief Executive Il Young Ryu and Seung Taik Baik, the company&#8217;s chief operating officer.<\/p>\n<p>  A majority of shareholders rejected the proposal in a meeting Tuesday.<\/p>\n<p>  &#8220;We will continue our efforts toward building a more transparent and accountable governing structure as we drive the business forward,&#8221; Gravity said in a statement.<\/p>\n<p>  The hedge funds had cited &#8220;consistent &#8216;detrimental&#8217; actions against shareholders by the executives and the board through various related-party transactions with companies that clearly have  conflicts of interest with the company.&#8221;<\/p>\n<p>  The hedge funds also questioned the executives&#8217; decision to acquire another gaming company, Emile Chronicle Online, without seeking an independent valuation.<\/p>\n<p><a href=\"http:\/\/www.boston.com\/business\/articles\/2006\/12\/26\/gravity_shareholders_back_two_executives\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston Globe &#8211; South Korean online game developer Gravity Co. Ltd. said Tuesday its shareholders rejected a proposal from U.S. hedge funds to remove two senior executives from its board ofdirectors. Ramius Capital Group and Moon Capital Management on Dec. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5465","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=5465"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/5465\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=5465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=5465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=5465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}