NEW YORK (GenomeWeb News) – Response Genetics today said that it has settled a proxy contest with institutional investor Special Situations Fund and its affiliates, which will result in a new slate of nominees for the firm's board of directors.
The Los Angeles-based molecular diagnostics firm said that under the terms of the settlement, SSF has agreed to terminate its proxy solicitation and to vote for a revised slate of director nominees. That revised slate will include two outside directors previously nominated by SSF.
The nine nominees to be recommended for election at the 2010 annual meeting of shareholders are Response Genetics President and CEO Kathleen Danenberg, Kirk Calhoun, Gary Nusbaum, Michael Serruya, David Smith, Jan Fagerberg, Michael Metzger, Richard van den Broek, and David Wurzer. Van den Broek and Wurzer were the two previous nominees of SSF.
Response Genetics said that it has postponed its scheduled 2010 annual meeting in order to implement terms of the settlement. A date for the rescheduled meeting will be announced in the near future, said Response Genetics.