Legion Partners Asset Management and Ancora Advisors, LLC’s agreement with SPS Commerce, Inc. to appoing new independent directors


Olshan clients Legion Partners Asset Management and Ancora Advisors, LLC have entered into an agreement with SPS Commerce, Inc., a leader in retail cloud services, to appoint Melvin Keating, Michael McConnell, and Marty Reaume as independent directors to SPS’s Board of Directors effective immediately.

ccording to the agreement, one board member will not stand for re-election at the 2018 annual meeting of stockholders so that the Board will comprise nine directors immediately following the annual meeting.

Legion Partners Asset Management, LLC operates as an investment management company. The Company offers asset management, equities, fundamental research, investment strategies, financial planning, and advisory services.

Ancora Advisors, LLC is an employee owned investment manager. The firm primarily provides its services to high net worth individuals. It also caters to investment companies, pension and profit sharing plans, pooled investment vehicles, charitable organizations, corporations, union, and state and municipal government entities.

Steve Wolosky (Picture), Elizabeth Gonzalez-Sussman, and Shawn Fateh represented Legion Partners and Ancora Advisors in connection with the agreement.

Involved fees earner: Steve Wolosky – Olshan Frome Wolosky LLP; Elizabeth Gonzalez-Sussman – Olshan Frome Wolosky LLP; Shawn Fateh – Olshan Frome Wolosky LLP;

Law Firms: Olshan Frome Wolosky LLP;

Clients: Legion Partners Asset Management; Ancora Advisors, LLC;

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Author: Ambrogio Visconti