Activist Investor Snaps Up 5% of Volcano Corporation Stock, Demands Changes
Published: Nov 06, 2013
Engaged Capital, an investment fund founded by Glenn Welling, reveals a 5.1% stake in Volcano Corp. and demands changes to management compensation pay, a $200 million in share buyback program and more focus on organic growth. Company officials at Volcano (NSDQ:VOLC) are keeping quiet about an aggressive stock purchase from activist investor Glenn Welling and his fund, Engaged Capital. San Diego, Calif.-based Volcano revealed in Securities & Exchange Commission filings Monday that Welling's firm purchased some 5.1% shares of VOLC stock and is demanding changes at the company, including revisions to management compensation packages, a $200 million share buyback and calling for the company to resist acquiring any more companies to focus solely on "organic growth."
Help employers find you! Check out all the jobs and post your resume.