Red Oak Partners’ Investor Activism

When J. Randall Waterfield accepted a position on Red Oak Partners’ board of directors, he joined a firm known for its investor activism. The company has been recognized by the Activist Investor Project as one of the Top 200 Activist Hedge Funds, and over the last decade it has made news several times for challenging the companies in which it holds stakes.

In 2008, Red Oak was a shareholder in Audible.com when Amazon.com offered to buy the company for $11.50 per share. While Audible.com’s board recommended shareholders approve the deal, Red Oak criticized it and came out publicly in opposition. The next year, the company engaged in and won a proxy contest when Asure Software proposed to go private. Red Oak has since pushed several other companies to adopt policies more friendly to their shareholders.

J. Randall Waterfield joined Red Oak’s board in October 2014. He also serves on the boards of several companies with which Red Oak has long been involved. Since taking his position on the board, Randy Waterfield has provided Red Oak with capital as well as access to the research and due-diligence resources of Waterfield Group, which he serves as CEO.

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