Dolphin Calls on All infoUSA Directors to Face Shareholders at Annual Meeting
04 Junio 2007 - 9:27AM
PR Newswire (US)
STAMFORD, Conn., June 4 /PRNewswire/ -- Dolphin Limited Partnership
I, L.P. and Dolphin Financial Partners, L.L.C., long-term holders
with 2.0 million shares (3.6%) of infoUSA (NASDAQ Symbol: IUSA),
published an open letter to the infoUSA Board of Directors that
appeared Sunday in the Omaha World-Herald as a placed
advertisement. Dolphin states, "Last year, when you held the
meeting in Marshfield, Wisconsin, only one Board member other than
Mr. Vinod Gupta appeared. We ask -- how many of you will attend
this year's Meeting on June 7th?" The complete content of the
letter appears as follows: June 3, 2007 OPEN LETTER TO THE infoUSA
BOARD OF DIRECTORS Vinod Gupta Elliot S. Kaplan Chairman and CEO,
infoUSA Inc. Senior Partner, Robins, Kaplan, Miller & Ciresi,
L.L.P. Bill L. Fairfield Chairman, DreamField Capital Ventures, LLC
Bernard W. Reznicek President & CFO, Premier Enterprises, Inc.
Dr. George F. Haddix Former CEO, CSG Systems, Inc. Anshoo S. Gupta
President, JAG Operations, LLP Dennis P. Walker President &
CEO, Jet Linx Aviation Vasant H. Raval Professor, Creighton
University Dear infoUSA Board: The June 7 Annual Meeting of
Shareholders is fast approaching. Last year over 90% of the
unaffiliated shareholders of infoUSA sent a clear mandate for
reform. As Institutional Shareholder Services (ISS), the world's
leading independent proxy voting advisory service, said, "Since the
[2006] proxy contest, [infoUSA] has not taken sufficient steps in
addressing shareholder concerns...." The director and head of
M&A research at ISS mirrored the sentiments expressed in the
ISS report when he very recently said, "In my experience, this
company has been the least accountable to shareholders from the
ones I've reviewed at ISS ... Nothing seems to have changed in the
governance profile."(1) Good corporate governance principles
dictate that directors face their shareholders at least once a year
at the Annual Meeting. The shareholders expect that each of you
will attend this year's Annual Meeting in Calverton, Maryland. Last
year, when you held the meeting in Marshfield, Wisconsin, only one
Board member other than Mr. Vinod Gupta appeared. We ask -- how
many of you will attend this year's Meeting on June 7th? Last year
you heard the shareholders' powerful message of discontent, and we
believe you will hear it again this year and will continue to hear
it. The shareholders are calling for real change and a new era of
good corporate governance at infoUSA. Very truly yours, Donald T.
Netter Senior Managing Director (1) Quoted in, "ISS Blasts
infoUSA," The Daily Deal, May 30, 2007. SHAREHOLDERS ACT NOW! IF
YOUR SHARES ARE HELD BY A BROKER AND YOU DO NOT VOTE -- YOUR SHARES
WILL BE AUTOMATICALLY VOTED FOR THE ELECTION OF MANAGEMENT'S
NOMINEES! To be sure your shares are included in this important
election, please follow the instructions to vote by telephone or
via the Internet shown on the proxy card management sent you. OR If
your shares are held in the name of a bank or broker, contact the
person responsible for your account and direct them to WITHHOLD
your shares from the election of management's nominees and vote
AGAINST The 2007 Omnibus Incentive Plan. If you have any questions
or would like assistance in voting your shares, please contact
Innisfree M&A Incorporated, toll-free, at 1-888-750-5834.
Dolphin urges all infoUSA shareholders to WITHHOLD votes from all
management's nominees and vote AGAINST the 2007 Omnibus Incentive
Plan-Support The infoUSA shareholder Bill of Rights. DATASOURCE:
Dolphin Limited Partnership I, L.P. CONTACT: Arthur B. Crozier of
Innisfree M&A Incorporated, +1-212-750-5833
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