Rocky Mountain Chocolate Factory, Inc. - RMCF STOCK NEWS

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) announced its response to a lawsuit filed by AB Value Management, asserting the claims are baseless and misleading. RMCF emphasized that no stockholder is disenfranchised and has the right to vote for their preferred board nominees. The company remains committed to enhancing stockholder value and continues to engage with investors. RMCF encourages stockholders to vote for the WHITE proxy card in favor of its board nominees.

AB Value Management LLC and its affiliates, representing approximately 14.59% of the outstanding shares of Rocky Mountain Chocolate Factory (NASDAQ: RMCF), have filed a lawsuit in Delaware against the Company and certain Board members. The lawsuit seeks to invalidate the Board's decision to reduce the number of seats available for election at the upcoming 2021 Annual Meeting. This action has led to accusations of breaching fiduciary duties and attempts to block shareholder voting rights. Shareholders are urged to vote FOR the Concerned Shareholders on the BLUE proxy card to enhance value.

Three independent director candidates—Rhonda J. Parish, Mark Riegel, and Sandra Elizabeth Taylor—nominated by AB Value Management LLC, seek election to the Board of Rocky Mountain Chocolate Factory (RMCF) at the 2021 Annual Meeting. Representing about 14.59% of shares, they emphasize their experience in governance and industry knowledge. The candidates plan to address business challenges and propose improvements in corporate governance, highlighting issues with the current Board's decisions, including a controversial 'poison pill' provision. They are committed to enhancing shareholder value through collaboration and transparency.

Concerned Shareholders of Rocky Mountain, holding 14.59% of outstanding shares in Rocky Mountain Chocolate Factory (NASDAQ: RMCF), criticize the Board's decision to reduce its size from seven to six seats just weeks before the 2021 Annual Meeting. They argue this move reflects mismanagement and an attempt to entrench control. The shareholders are urging others to vote for their candidates using the BLUE proxy card to ensure better governance. They highlight ongoing poor governance practices, including a history of resistance to shareholder interests and lack of transparency.

Rocky Mountain Chocolate Factory (RMCF) filed an investor presentation with the SEC for its 2021 Annual Meeting of Stockholders on October 6, 2021. The presentation details a strong slate of director nominees with diverse expertise aimed at enhancing stockholder value. Significant corporate governance improvements have been made, including a majority refresh of the Board to ensure independence. RMCF emphasizes its strategy for long-term growth and urges stockholders to vote for its nominees using the WHITE proxy card.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) announced its Board of Directors is addressing misleading claims by AB Value Management regarding a proxy contest. The Board urges stockholders to vote for its nominees on the WHITE proxy card ahead of the Annual Meeting on October 6, 2021. The Board asserts that it has acted in good faith, engaged in substantial negotiations, and is committed to supporting the Company's growth strategy. RMCF highlights its strong free cash flow, improving sales, and healthy balance sheet while condemning AB Value's actions as unnecessarily costly and distracting for stockholders.

Concerned Shareholders of Rocky Mountain filed a proxy statement to elect five independent director candidates at the Company’s 2021 Annual Meeting. Representing about 14.63% of outstanding shares, they criticize the current Board for alleged misleading claims about governance and board refreshment. Key points include accusations of the Board's defensive strategies and lack of genuine engagement with shareholders. The Concerned Shareholders argue that their candidates bring necessary experience and accountability to improve value for shareholders. They urge fellow shareholders to vote the BLUE card for change.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) announced the mailing of definitive proxy materials for its 2021 Annual Meeting of Stockholders. The Company urges stockholders to vote for its seven highly qualified nominees, including six independent directors, to drive long-term growth and value creation. RMCF's balance sheet remains strong, with significant free cash flow and improving same-store sales, averaging double-digit increases compared to the pre-pandemic period. The Board has appointed experienced independent directors and emphasizes robust governance practices.

AB Value Management and the Concerned Shareholders of Rocky Mountain represent 13.54% of Rocky Mountain Chocolate Factory (RMCF) shares, criticizing the company's preliminary proxy and settlement proposal. They argue the board's refreshment has been pressured by shareholders, not proactive. The proposed settlement lacks meaningful board changes and includes unfavorable terms. Recent board decisions highlight governance issues, particularly with Chairperson Rahul Mewawalla, leading to calls for significant director changes. The Concerned Shareholders advocate for their slate to enhance corporate governance and accountability.