Daily Journal Corporation Rebukes Activist Demands Amid Boardroom Tensions
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Daily Journal Corporation has rejected demands from activist investor Alexander Erwin Parker for two Board seats and a consulting contract. The company refuted Parker's allegations about its financial statements and governance practices. In light of threats of a proxy contest, the Board expressed confidence in its financial reporting and advised shareholders that no action is needed. The company has referred Parker and Buxton Helmsley to authorities for potential criminal prosecution, emphasizing its commitment to shareholder interests.
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