Activist Client Potomac Capital Urges Review of All Strategic Alternatives at PLX Technology
Potomac Capital Management II, LLC delivered a letter to the Board of PLX Technology, Inc. today, expressing its disappointment with the Board’s failure to respond meaningfully to the issues raised in its first letter. Potomac reiterated its strong belief that value can best be created by capitalizing on the historic interest in PLX and exploring all strategic alternatives, including the sale of the Company. Potomac stressed it had no faith that the Board as currently composed will translate strategic interest in PLX into a value-maximizing transaction and concluded that change is needed in the Board’s composition. Steve Wolosky and Aneliya Crawford represent Potomac in this matter.