HEAR - Turtle Beach gains after holder Donerail nominates six directors Citron tweets on 'imminent' takeover (update)

Update 9:50pm: Adds Turtle Beach comment. Turtle Beach (NASDAQ:HEAR) rose 7% after holder Donerail Group nominated six candidates to the gaming headphone maker's board and following a tweet from Citron Research that a takeover is "imminent." Donerail also announced that SCW Capital Management, another Turtle Beach holder, has joined the activist investor's group and together the funds have an 8.5% stake, according to a statement. Turtle Beach is reportedly working on an auction of itself and is using two bankers from BofA, according to a TheDeal.com story from earlier this month, that said a potential deal could happen within the next two to three weeks. Donerail officially started its proxy battle with Turtle Beach (HEAR) earlier this month after the investor said it dropped its bid to purchase the company and planned to nominate a full slate of directors to the board. "It is clear to us that wholesale change is urgently needed in Turtle Beach’s

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Turtle Beach gains after holder Donerail nominates six directors, Citron tweets on 'imminent' takeover (update)