Activist Client Engaged Capital Featured in Numerous Media Reports for Unveiling of a Strategic Plan to Fair Valuation at AeroVironment
The Wall Street Journal, Street Insider, RTT News, Barron's, Associated Press and numerous other media outlets reported on Engaged Capital’s public disclosure of a 5.1% stake in AeroVironment, the California-based designer and developer of advanced portfolio of unmanned aircraft systems (drones) for the U.S. military. Engaged Capital stated that AeroVironment is undervalued and released a strategic plan to create fair valuation at AeroVironment through improvements in corporate governance, financial disclosures, capital structure and a stronger focus on value creating capital allocation. The market responded to Engaged Capital’s announcement favorably, as AeroVironmnet’s stock price rose 13% over the course of the day. Steve Wolosky and Meagan M. Reda represent Engaged Capital in connection with its investment in AeroVironment.