Falcon has invested more capital and owns more shares in the Company than any other single party. We therefore have every interest in identifying and executing a value maximizing transaction that would benefit all shareholders. We believe the management of the Company has repeatedly given you misinformation and failed to disclose material information (including detailed information regarding what discussions Shiv Govindan has had about an ongoing paid position and other personal benefits at a merged company if the Halsa deal were to be approved). Mr. Govindan has also routinely directed the Company to violate the terms of our binding agreements. We think you should ask yourselves why and want to hear our side of the story.
Over a month ago we wrote a letter to shareholders regarding what we believe to be fraudulent and wrongful conduct management and Shiv Govindan have engaged in toward Falcon and requested that management forward it to all shareholders. We now understand they did not distribute it. We then requested a shareholder list with contact information, so that we could send the letter ourselves. Again, they refused to comply with our request in violation of both our agreements. Considering this brazen course of conduct, Falcon has had no choice but to commence litigation to enforce its rights. Last Wednesday, a New York judge issued a restraining order because of management’s course of conduct, which is why last week's shareholder meeting was adjourned without a vote.
If you are interested in hearing more, please send an email to info@falcon-investor.com including your name and the number of shares you own or control. We will provide you with our side of the story and why we strongly recommend you vote against their proposed value-destructive, cashless merger with Halsa.
We hope to hear from you.