Key Summary: On May 6, 2024, Shah Capital Management, Inc. launched a campaign urging stockholders to vote against the re-election of all Novavax directors at the 2024 Annual Meeting.On May 20, 2024, Shah Capital withdrew its campaign.Market Cap: $2.2 billion | Novavax, Inc., a biotechnology company, that promotes improved health by discovering, developing, and commercializing vaccines to protect against serious infectious diseases.
On May 6, 2024, Shah Capital Management, Inc. launched a campaign urging stockholders to vote against the re-election of all Novavax directors at the 2024 Annual Meeting. They criticized the board and management for hindering the company's potential and advocated for fresh perspectives to restore investor confidence. Shah Capital filed a proxy statement to solicit votes against three Class II Directors and three other proposals, emphasizing the need for urgent change due to poor performance and unresponsiveness. Source
On May 20, 2024, Shah Capital Management, Inc (7.9%) announced that in light of recent developments at the company, they have determined to withdraw their preliminary proxy statement and campaign against the re-election of the Class II directors at the upcoming annual meeting. Source
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