Lone Star Value Gains Representation on the Board of Novation Companies
Olshan activist client Lone Star Value reached an agreement with Novation Companies for the addition of two Lone Star Value representatives on Novation’s Board of Directors. Lone Star Value’s principal, Jeff Eberwein and Bob Pearse will join the Board effective immediately. Under the Agreement, Novation will also commence a process of declassification of the Board at the 2016 Annual Meeting subject to shareholder approval. Steve Wolosky and Ryan Nebel represent Lone Star Value in connection with its investment in Novation.