Echo Therapeutics claims Platinum Group's latest board nominee became a candidate only because he's related to the firm's existing board designee. Embattled Echo Therapeutics (NSDQ:ECTE) issued a series of letters in recent weeks urging its shareholders not to vote in favor of activist investor Platinum Group's nominee for the board of directors, saying that the candidate was chosen based on nepotism rather than merit. Echo claimed that Platinum nominee Shepard Goldberg is the 1st cousin of the firm's current board designee, Michael Goldberg. Echo further noted that Shepard's background is primarily in heating and swimming pools, saying that "Shepard Goldberg brings to the Board no relevant medical device experience."
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