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Camac Comments on Latest Entrenchment Efforts by Liberated Syndication Board

Business Wire



Reading Time: 3 minutes

NEW YORK–(BUSINESS WIRE)–$LSYN–Camac Fund, LP issued the following letter to fellow stockholders of Liberated Syndication, Inc. (OTCQB:LSYN):

As of yesterday Camac Partners, LLC (“Camac”), the investment manager of Camac Fund, LP, had received consents approaching 25% of the common stock of Liberated Syndication, Inc. (OTCQB: LSYN) (“Libsyn”), which is the threshold necessary to call a special meeting of stockholders. Camac is alarmed that, with full knowledge of the impending call of a special meeting, Libsyn’s board unilaterally purported to amend Libsyn’s bylaws to dramatically increase the quorum required at a special meeting and impose an onerous and highly unusual “advance notice” requirement in connection with annual meetings of stockholders.

“We are shocked by the blatant disregard for stockholder rights evidenced by Libsyn’s recent attempted bylaw amendments,” said Eric Shahinian, the founder and managing member of Camac. “There is no rational or legal basis for this action other than to improperly deny stockholders the right to influence the future of their company and protect their investment. Stockholders can rest assured we will pursue every means necessary to ensure that stockholders finally have a say at Libsyn.

“We are very pleased with the response to our efforts to call a special meeting. Despite management denying us access to customary stockholder list materials, we have already received an outpouring of support. Stockholders are united in their frustration and firm in their view that change is needed.”

Continued Mr. Shahinian, “At every turn, we have found Libsyn’s board to be focused on one thing: preserving their positions and the lucrative pay associated with them. They are now well aware that they have no material independent stockholder support. Libsyn’s board must be held accountable for its legacy of bad decisions. It is time for stockholders to act before Libsyn’s board destroys more value. Join us in calling a special meeting to right these wrongs.”

Camac is committed to maximizing value for stockholders. If successful in reconstituting Libsyn’s board at the special meeting, Camac believes that it will be incumbent upon the new board to evaluate any and all legal actions seeking to rescind prior stock awards granted to the prior board members, carefully review inflated pay packages that were not properly voted or approved, and investigate any misuse of corporate funds through related party agreements or transactions, inflated expenses, or the like.

Camac reminds its fellow stockholders of the following:

  • Since Libsyn’s spin-out from FAB Universal Corp., Libsyn’s board has authorized the issuance of over 10 million new shares to insiders for no financial consideration. Libsyn’s stockholders will have been diluted by 49% if these shares fully vest.
  • In 2019, Christopher J. Spencer, Libsyn’s chief executive officer, is slated to receive a $400,000 salary and an $800,000 bonus, and John Busshaus, Libsyn’s chief financial officer, is slated to receive a $350,000 salary and a $700,000 bonus. This amounts to over 59% of Libsyn’s 2018 income.
  • Libsyn’s board approved massive share awards to Messrs. Spencer and Busshaus that were conditioned on the achievement of certain milestones. Camac believes that Libsyn’s board has recently taken a number of troubling actions to permit the vesting of one of these awards where Libsyn management had not met the applicable performance threshold, and extended the time to achieve the thresholds for other awards.

Please help Camac bring needed improvements to Libsyn. Sign, date and return the WHITE special meeting request card today.

Camac is eager to speak with its fellow Libsyn stockholders. Please contact Camac using the contact information at the end of this release.

Camac owns approximately 6.2 percent of Libsyn, and has been a stockholder since 2017. Camac is seeking to call a special meeting for the purposes of, among other things, reconstituting Libsyn’s board with independent, highly qualified directors.

About Camac Partners

Camac Partners is a private investment firm founded in 2011. Camac focuses on extremely mispriced assets in discrete pockets of opportunity. Camac prides itself on its unique sourcing, flexible mandate, and constant focus on non-competitive opportunities. Its investments are long term in nature and focused on compounding capital over several decades rather than months or years.


For Further Information

Camac Partners LLC

Eric Shahinian

(914) 629-8496

InvestorCom LLC

19 Old Kings Highway, Suite 210

Darien, CT 06820

Stockholders call toll-free: (877) 972-0090

Banks and brokers call collect: (203) 972-9300

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Business Wire

SCI Welcomes Industry Veteran to Advisory Board

Business Wire



Reading Time: 2 minutes

QUEENSBURY, N.Y.–(BUSINESS WIRE)–Subcontracting Concepts, LLC is very pleased to announce and welcome Chris MacKrell as a new member to the SCI Advisory Board. SCI’s newly formed Advisory Board has been created to provide strategic guidance and technical advice — ensuring SCI remains the leading third-party administrator as the last-mile supply chain is shaped by new forces.

Chris brings a wealth of knowledge in last-mile logistics to SCI. He will be instrumental in continuing SCI’s market-leading position as the preeminent third-party administrator for logistics brokers and owner operators in the last mile marketplace.

Chris is the co-founder of Custom Courier Solutions and served in various national sales and Senior Operations roles as the Manager of Business Development at CD&L and Regional Vice President – East Sales and Operations at AirNet, a $150M Air freight carrier.

Like SCI, Chris believes strongly in advocating for this industry. In 2013, he testified before a Senate Subcommittee on Employment and Workforce Safety on the key role Owner Operators play in the US economy. He served as the President of the CLDA – Customized Logistics and Delivery Association, formerly the MCAA, and the NYSMCA – New York State Messenger and Courier Association. Prior to his term as President, Chris served as a Chairman of both the CLDA & NYSMCA Government Affairs committee. The NYSMCA is the key trade association advocating for the industry in New York State. He is a recipient of the industry’s Distinguished Service award in 2009 and an inductee into the CLDA Hall of Fame in 2016. The CLDA is the nation’s largest logistics industry trade association. Chris has a B.S. degree in Business from SUNY Brockport. He currently resides in Saratoga Springs, New York.

I am thrilled to be part of the SCI team. I have had nothing but great experiences working with SCI as both a client and member of CLDA and I am looking forward to contributing my industry expertise to SCI’s already market-leading technical innovation.”

Peter Fidopiastis, President and General Counsel, states, “We are very excited to welcome Chris to our advisory board at SCI. His track record in this industry is unparalleled, and his vast experience is something of great value to SCI and the future of our business. Mr. Fidopiastis added: “Chris brings a unique perspective in the industry that SCI has never had before.”

About SCI

Subcontracting Concepts, LLC (SCI) is the premier Third-Party Administrator (3PA) servicing the logistics industry. SCI provides its customers with competitive insurance programs, settlement Processing, and personalized customer Service for logistics brokers. Building software and services that can keep up with the demand of the logistics industry has always been our focus. Furthermore, everyone at SCI is dedicated to knowing more about our customers’ needs and adapting to meet them. The SCI team is continually collaborating on new and exciting ways to streamline owner operator enrollment, document management, and verification. SCI combines technology, personal customer service, and years of knowledge and experience to create a one stop shop to ease the burden of owner operator management. For more information visit


Brent Pickerd

(800) 821-5344

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Business Wire

Optiv Security Brings Cybersecurity Innovation to Dallas-Fort Worth

Business Wire



Reading Time: 3 minutes

Doubles North Texas Footprint

Accelerates Ability to Help Clients Optimize, Integrate, Innovate and Operationalize Cybersecurity

DALLAS–(BUSINESS WIRE)–#DallasOptiv Security, a security solutions integrator delivering end-to-end cybersecurity solutions across the globe, today announced the opening of its new Dallas Innovation and Fusion Center, a state-of-the-art, more than 14,000-square-foot facility located in the HALL Park complex in Frisco, Texas. The Center brings together a diverse team of cybersecurity experts – cyber digital and risk professionals, threat and innovation experts and others – working together with clients and industry partners to develop integrated, tailored and proactive cybersecurity solutions that address the speed of business change. Optiv’s investment in its new Innovation and Fusion Center doubles the company’s footprint in North Texas, and underscores Optiv’s commitment to helping global clients achieve success by optimizing, integrating, and operationalizing cybersecurity.

“The world continues to change and evolve at an accelerating pace, but the industry’s approach to cybersecurity has largely remained the same – a reactive approach where businesses respond to new external influences or requirements from the outside-in,” said Dan Burns, Optiv’s chief executive officer. “Our Dallas Innovation and Fusion Center accelerates our ability to provide businesses with a new approach that acknowledges and leverages the invention delivered by technology vendors, and then integrates and innovates how technology works together. Further enhanced with the innovation Optiv is developing, we are transforming the cybersecurity delivery and consumption model. This allows Optiv to reduce complexity and remove the symptoms that are roadblocks to business innovation. We are pleased to expand our capabilities in North Texas to better serve our clients and are looking forward to continuing our strategic investment in the region.”

Optiv’s new location features a state-of-the-art Advanced Fusion Center (AFC), an upgrade of the outdated security operations center (SOC) model. The AFC uses data analytics, machine learning, robotics, intelligence and automation capabilities – backed by skilled global cybersecurity experts. The AFC provides the foundation to deliver completely customizable solutions for each client based on the specific organization’s risk tolerance, business model, compliance requirements, and current technology investments.

“Optiv’s focus for the Center will be used to test, evaluate, and deliver new global cybersecurity solutions like our new Cyber-as-a-Service (CaaS™) offerings, it will also provide a global delivery center to grow cybersecurity talent and to provide integrated and innovative design services through workshops where Optiv global services experts work hand-in-hand with clients to design and build real-time custom solutions that address specific business problems and concerns,” said Chad Holmes, Optiv’s chief services and operations officer.

Holmes continued, “Optiv has also incorporated many of these innovations into our new Advanced Fusion Center and will continue to evolve our capabilities across all centers around the world. We are excited to empower locally based organizations and global clients with the ability to leverage the latest technology advances, giving them new choices relating to how they would like to consume cybersecurity services, and greater flexibility to manage their appropriate level of risk.”

Please visit our Website for more information about our cybersecurity solutions and capabilities.

Follow Optiv






Optiv Security: Who Secures Your Insecurity?™

Optiv is a security solutions integrator – a global, “one-stop” trusted partner with a singular focus on cybersecurity. Our end-to-end cybersecurity capabilities span risk management and transformation, cyber digital transformation, threat management, cyber operations, identity and data management, and integration and innovation, helping organizations realize stronger, simpler and more cost-efficient cybersecurity programs that support business requirements and outcomes. At Optiv, we are modernizing cybersecurity to enable clients to innovate their consumption models, integrate infrastructure and technology to maximize value, achieve measurable outcomes, and realize complete solutions and business alignment. For more information about Optiv, please visit us at


Brett Ater

(913) 304-7683


Jason Cook

(816) 701-3374

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Business Wire

PPG Directors Approve 6 Percent Dividend Increase to 51 Cents Per Share

Business Wire



Reading Time: 1 minute

PITTSBURGH–(BUSINESS WIRE)–The board of directors of PPG (NYSE:PPG) today approved a 3-cents-per-share increase in the company’s dividend, declaring a regular quarterly dividend of 51 cents per share, payable Sept. 12 to shareholders of record Aug. 12.

PPG’s prior quarterly dividend was 48 cents per share.

This marks the company’s 484th consecutive dividend payment. Through ongoing dedication and expertise of its workforce, the company has raised its annual dividend payout for 47 consecutive years and paid uninterrupted annual dividends since 1899.


At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and materials that our customers have trusted for more than 135 years. Through dedication and creativity, we solve our customers’ biggest challenges, collaborating closely to find the right path forward. With headquarters in Pittsburgh, we operate and innovate in more than 70 countries and reported net sales of $15.4 billion in 2018. We serve customers in construction, consumer products, industrial and transportation markets and aftermarkets. To learn more, visit

We protect and beautify the world is a trademark and the PPG Logo is a registered trademark of PPG Industries Ohio, Inc.


PPG Media Contact:

Mark Silvey

Corporate Communications


PPG Investor Contact:

John Bruno

Investor Relations


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