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Activist investor's Ethan Allen board nominees had more support than thought

2015-12-03 07:26:57| Furniture - Topix.net

The final voting results of a failed attempt to replace board members at Ethan Allen Interiors appear to indicate that Manhattan-based activist investor Sandell Asset Management had significant support among stockholders. While Ethan Allen maintained control of the company and its seven board members were re-appointed following the proxy vote last week, Sandell claims they received the support of more than half of shareholders who voted after excluding those of CEO Farooq Kathwari , who owns an 11 percent stake in the Danbury-based furniture manufacturer and interior design company.

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