In an open letter to shareholders on Wednesday, activist investor Ancora Advisors announced that it has nominated four candidates for election to the board of asset-light trucking and logistics company Forward Air (NASDAQ: FWRD).
After unsuccessful discussions between the board and the investor group, which also includes Forward’s founder Scott Niswonger and former CFO Andy Clarke, it appears a proxy battle is now in the works.
The letter asserts Forward has the potential to be a “best-in-class...
https://www.freightwaves.com/news/activist-investors-seek-4-seats-on-forward-air-board