Sunday, 29 November 2015
Last updated 2 days ago
Jul 5 2007 | 1:26pm ET
Hounded by a Massachusetts hedge fund, Pomeroy IT Solutions said today that it has sacked president, CEO and namesake Stephen Pomeroy.
The firing came after a review by an independent counsel, and was attributed to “certain conduct and actions” by Pomeroy, according to a statement from the company, that did not involved financial impropriety or any illegality.
In April, Cambridge, Mass.-based Flagg Street Capital, which owns about 10% of Pomeroy IT, launched a proxy battle to oust Pomeroy and his father, David, who serves as chairman of the Hebron, Ky.-based computer hardware and consulting business.
“Under Stephen Pomeroy’s watch as CEO, the company performed miserably at a time when the rest of the IT industry thrived, restated its financial statements more than once due to accounting errors, and consistently missed guidance,” Flagg Street charged in an April Securities and Exchange Commission filing.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…