DMNews.com- InfoUSA Inc. has issued a statement rebutting a series of attacks by hedge fund Dolphin Limited Partnership and Don Netter.<\/p>\n
Dolphin Limited Partnership and Dolphin Financial Partners, which together own two million shares, or 3.6 percent, of infoUSA, recently sent a letter to all infoUSA shareholders. In the letter, Dolphin calls on all shareholders to vote against the 2007 Omnibus Incentive Plan, withhold votes on all of management’s nominees and support the Shareholder Bill of Rights.<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cAt last year’s Annual Meeting, unaffiliated shareholders overwhelmingly rejected the Company’s director nominees \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u009d including Chairman Vinod Gupta. Over 90 percent of the shareholders other than Mr. Gupta and his affiliates voted with Dolphin and against Mr. Vinod Gupta \u00c3\u00a2\u00e2\u201a\u00ac\u00e2\u20ac\u009d a greater than 12:1 margin,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d the letter reads. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThe Board’s nominees were elected by a whisker-thin majority, with Mr. Gupta and his affiliates supplying over 92 percent of their own support.<\/p>\n
\u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cYou would think that Mr. Gupta and the infoUSA Board would take notice of this extraordinary statement of share holder discontent,\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d the letter says. \u00c3\u00a2\u00e2\u201a\u00ac\u00c5\u201cThey have not.\u00c3\u00a2\u00e2\u201a\u00ac\u00c2\u009d<\/p>\n