CoreLogic Announces Preliminary Results of 2020 Special Meeting
CoreLogic (NYSE: CLGX) announced preliminary results from its Special Meeting, indicating shareholders likely voted against replacing most of the current board directors. Nine directors, including chairman Paul Folino, will remain, while three directors are expected to be replaced by nominees from Senator Investment Group and Cannae Holdings. The final voting results will be confirmed and reported in a Current Report on Form 8-K. The company expressed gratitude to the outgoing directors for their contributions, highlighting a significant transformation that quadrupled the stock price.
- Nine out of twelve current directors will remain, ensuring stability in leadership.
- The stock price has quadrupled during the tenure of the outgoing directors.
- Three current directors are being replaced, indicating potential governance challenges.
IRVINE, Calif.--(BUSINESS WIRE)--CoreLogic® (NYSE: CLGX), a leading global property data and analytics-driven solutions provider, today announced that, based on a preliminary vote count by its proxy solicitor, the Company believes that shareholders have voted at today’s Special Meeting not to replace nine of the Company’s 12 current directors. The CoreLogic directors who will continue to serve are Douglas C. Curling, John C. Dorman, Paul F. Folino, Frank D. Martell, Claudia Fan Munce, Pamela Hughes Patenaude, Vikrant Raina, J. Michael Shepherd, and Jaynie Miller Studenmund.
Based on a preliminary vote count by its proxy solicitor, the Company believes that shareholders have voted to remove current directors J. David Chatham, Thomas C. O’Brien, and David Walker, and that three nominees of Senator Investment Group and Cannae Holdings have been nominated for appointment to the Company’s Board to fill these vacancies: W. Steve Albrecht, Wendy Lane, and Henry W. “Jay” Winship. Subject to certification of the final voting results and applicable law, the CoreLogic Board intends to fill the three vacancies resulting from the removal of current directors at the Special Meeting with these nominees.
“We thank our shareholders for their participation in the Special Meeting, and we welcome Steve, Wendy and Jay to the Board of Directors,” said Chairman Paul Folino. “We look forward to working together and will get them up to speed quickly on our business and our strategic review process.”
Mr. Folino continued, “On behalf of the entire Board, I would like to thank David, Thomas and David for their numerous contributions to CoreLogic. During their tenure, the Company has been successfully transformed into a leading information services provider and our stock price has quadrupled. We wish these dedicated directors the very best in their future endeavors. Their experience and guidance have been invaluable, and it has been a pleasure to work with them on behalf of our shareholders.”
The voting results are subject to certification by the independent Inspector of Election. Final voting results of the Special Meeting will be included in a Current Report on Form 8-K, which will be filed with the Securities and Exchange Commission following such certification.
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit www.corelogic.com.
Safe Harbor/Forward Looking Statements
Certain statements made in this press release are forward-looking statements within the meaning of the federal securities laws, including but not limited to those statements related to expected financial results and the near and long-term consequences of the unsolicited proposal we received from Senator Investment Group, LP (“Senator”) and Cannae Holdings, Inc. (“Cannae”) on June 26, 2020, as revised on September 14, 2020 (the “Unsolicited Proposal”). Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the risks and uncertainties set forth in Part I, Item 1A of our most recent Annual Report on Form 10-K and Part II, Item 1A of our most recent Quarterly Report on Form 10-Q, as such risk factors may be amended, supplemented, or superseded from time to time by other reports we file with the Securities and Exchange Commission. These risks and uncertainties include but are not limited to: any potential developments related to the Unsolicited Proposal; any impact resulting from COVID19; our ability to protect our information systems against data corruption, cyber-based attacks or network security breaches; limitations on our ability to repurchase our shares; changes in prices at which we are able to repurchase our shares; limitations on access to or increase in prices for data from external sources, including government and public record sources; systems interruptions that may impair the delivery of our products and services; changes in applicable government legislation, regulations and the level of regulatory scrutiny affecting our customers or us, including with respect to consumer financial services and the use of public records and consumer data; difficult conditions in the mortgage and consumer lending industries and the economy generally; uncertainties regarding the outcome of any discussions with third parties indicating an interest in acquiring CoreLogic; risks related to the outsourcing of services and international operations; our ability to realize the anticipated benefits of certain acquisitions and/or divestitures and the timing thereof; and impairments in our goodwill or other intangible assets. CoreLogic can offer no assurances that it will enter any transaction in the future or, if entered into, what the terms of any such transaction would be. The forward-looking statements speak only as of the date they are made. CoreLogic does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
CLGX-F
