Agilysys Proxy Contest
Communicating in the heat of battle
Faced with an activist investor trying to muster support for a dissident slate of three director nominees in a proxy battle, Agilysys, Inc. (Nasdaq: AGYS) turned to Dix & Eaton for strategic counsel and to craft the rapid-fire responses needed to ensure that shareholders heard both sides of the story.
In a series of releases, SEC filings and letters to shareholders, Agilysys fully communicated the successes it had achieved in the strategic transformation of the company from a distribution business to a higher-margin IT solutions provider, along with its improved financial flexibility and the significant costs it had taken out of the business. A compromise settlement was reached before an actual vote of shareholders took place.