AJRD - Aerojet Executive Chairman calls for disclosure of investigations into his actions (update)
Update 4:40pm: Adds response from some of the Aerojet directors. Aerojet Rocketdyne (NYSE:AJRD) Executive Chairman Warren Lichtenstein called for the company to publicly release the findings of a board committee's review into his actions. Lichtenstein, who collectively owns 5.2% of the AJRD's shares, has been engaged in a proxy fight with the company and the sides have been trading lawsuits against each other. “Shareholders deserve to know what the Committee has reported to me and Eileen Drake about the investigation that Ms. Drake has squandered so much of their money on – and on which she has pinned so much hope of discrediting me," Lichtenstein said in a statement. The proxy battle between the company and Lichtenstein came after the FTC filed a lawsuit in late January to block Lockheed Martin's (LMT) $4.4 billion purchase of Aerojet (AJRD). Lockheed terminated the deal in February. Drake and board members Gen. Kevin Chilton, Thomas Corcoran and Gen. Lance Lord responded to Lichtenstein's
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Aerojet Executive Chairman calls for disclosure of investigations into his actions (update)