Ancora letter to IAA’s Board of Directors asserts new senior leadership is needed for the company to grow or the company should be sold.
Ancora Holdings Group, LLC that together with affiliates owns approximately 2% of IAA, Inc. (NYSE: IAA) outstanding common stock has called for new leadership at the auction firm, or failing that, a sale of the company.
“We invested in IAA because it is [sic] appears to be a fundamentally sound business that operates in an attractive and growing market with duopolistic characteristics. IAA and Copart, Inc. (Copart), which is the Company’s closest competitor, control the vast
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