HEAR - Turtle Beach gains after amending severance plan for change in control

Gaming headphone maker Turtle Beach (NASDAQ:HEAR) rose 3.2% in after hours trading after the company filed an 8-K on an amended severance agreement for executives. The amended retention plan includes enhanced payments for executives in the event of a change in control. The filing comes after a report in August that the company was running a sale process. The company turned down bids from Donerail Group, including a sweetened $36.50/share offer. Some investors have seen the severance/change in control language in filings in the past to be a sign of a potential takeover, though often times it's not the case. Turtle Beach didn't immediately respond to Seeking Alpha request for comment on the filing. Last week, Turtle Beach EPS of $0.92, updates guidance.

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Turtle Beach gains after amending severance plan for change in control