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In April, JAX has received a non-binding offer from second largest (8.6%) shareholder Ancora Advisors, together with a bunch of accusations and criticism towards the management. Despite getting support from another activist and 6.6% shareholder, the board has rejected the offer calling it undervaluing. A week later, Ancora has launched a proxy fight pushing shareholders to withhold their votes from reelecting 2 JAX directors in the annual meeting. Both major proxy firms (ISS and Glass Lewis) have recommended to support Ancora's proxy, and in the end, two