(Reuters) – Asset supervisor Neuberger Berman on Monday urged the shareholders of information analytics firm Verint Techniques to vote for its three director nominees after the corporate rejected them final month.
In a public letter to shareholders, Neuberger, which holds 2.6% stake within the firm, stated Verint ought to transition to a ‘trendy cloud enterprise’ mannequin.
Verint couldn’t instantly be reached for remark.
The corporate had stated in April not one of the nominees of Neuberger had been appropriate as potential board members and known as the nominations “demonstrably unwarranted”.
The asset supervisor stated on Monday it has owned Verint’s inventory since 2006 and has tried to speak with the corporate’s board for the final two years, however confronted reluctance.
Neuberger stated a sturdy share repurchase plan ought to be an vital half for a “low-growth” firm like Verint and that the administration must make a ‘compelling case’ for maintaining possession of each buyer engagement and cyber intelligence models.
Verint shareholders are set to fulfill on June 20 at its annual assembly and can vote on proposals, together with the nomination of administrators.
Reporting by Shariq Khan in Bengaluru; Enhancing by Arun Koyyur