My Size Files Lawsuit Against the Lazar/Ault Activist Group Over Attempts to Mislead Stockholders and Wage an Unlawful Proxy Contest
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Thursday, October 21, 2021
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The suit seeks, among other things, to enjoin the Activist Group from misleading My Size stockholders and waging an illegal proxy contest to seize control of the Company's Board of Directors (the "Board").
Key Points:
- The suit seeks, among other things, to enjoin the Activist Group from misleading My Size stockholders and waging an illegal proxy contest to seize control of the Company's Board of Directors (the "Board").
- Notably, My Size contends the Activist Group failed to disclose that the true purpose underlying its security purchases was to merge My Size with another company.
- Ronen Luzon, Chief Executive Officer and Founder of My Size, commented:
"The Board and management team have decided to take this extraordinary step to protect My Size for the benefit of all stockholders. - We firmly believe that the Activist Group has purposefully misled stockholders for its own benefit and in doing so, has violated the federal securities laws.