Activist Investor Snaps Up 5% of Volcano Corporation Stock, Demands Changes

Published: Nov 06, 2013

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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."

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