As we reported earlier, LSC recently told shareholders it is in “limited default” on its loans and absent a restructuring of that debt or injection of capital they may not “continue as a going concern,” which means they could be facing bankruptcy. On Tuesday activist shareholder Sententia Capital, which nominated its own slate of directors for the board in February, took a more aggressive stance. In a new letter, they accused the current LSC board of “frustrating the will of stockholders” and expressed concern “that the board and management’s next step at the expense of stockholders will be to accelerate […]
