BBIG - Retail investors make a push for place on Vinco Ventures board

2023-03-17 10:42:28 ET

A group of shareholders issued a formal announcement on the nomination of three new retail investor candidates to the board of directors of Vinco Ventures ( NASDAQ: BBIG ).

The group cited the company's lack of transparency in making its activist push and has ongoing concerns about Vinco Ventures' ( BBIG ) compliance with Nasdaq rules and regulations, which included the company's failure to file quarterly reports for Q2 and late filings for Q3 of 2022.

"As a worldwide community of retail investors, we are deeply concerned about the recent Nasdaq deficiency notices received by Vinco Ventures and lack of transparency into our investment" said Shadwrick Vick, a shareholder of Vinco Ventures and a community nominee.

The three nominees from the community group are Lorne Ross, Shadwrick Vick and Christopher Muntz. The nominees are said to bring a wealth of experience in corporate finance, operations, and digital media.

The grassroots BBIG community applying the pressure to the board includes investors on Reddit, Facebook, YouTube, Twitter, Stocktwits, LinkedIn, and other virtual communities.

Vinco Ventures ( BBIG ) has an annual meeting set for April 18.

Shares of Vinco Ventures ( BBIG ) fell 4.36% on Friday morning are down 78% over the last 52 weeks with the company in non-compliance with the SEC.

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