Saris­sa goes af­ter Alk­er­mes, seek­ing three board seats at the Irish drug­mak­er

Ac­tivist in­vestor Saris­sa Cap­i­tal Man­age­ment is call­ing on Alk­er­mes share­hold­ers to vote for three of its pro­posed board mem­bers, say­ing the cur­rent board has lim­it­ed over­sight and is not ac­count­able to share­hold­ers.

In a let­ter pub­lished Tues­day morn­ing, Saris­sa re­quest­ed that share­hold­ers vote for three of its board can­di­dates at Alk­er­mes’ an­nu­al meet­ing lat­er this month. Saris­sa al­leges that the cur­rent board “shunned our com­pro­mis­es” and would on­ly meet with the in­vest­ment fund twice a year, say­ing it’s “a mat­ter of course” for com­pa­nies to meet with ma­jor share­hold­ers at least four times a year.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER