CPC Issues Letter to Fellow XWELL, Inc. Shareholders Revealing Intention Behind Recent Schedule 13D Filing & Lawsuit Against Entrenched Board of Directors
XpresSpa Group(XWEL) GlobeNewswire News Room·2024-07-24 21:00
The sole focus of CPC’s position and lawsuit against XWELL’s entrenched Board of Directors (the “Entrenched Directors”) is to provide shareholders with an opportunity to elect a competing slate of directors to XWELL’s existing Board at the next annual shareholder meeting.Under the leadership of the incumbent Board, led by Chairman Bruce Bernstein, XWELL has reported a combined net operating loss of $207.3 million from 2018 through 2023.Since February 2016, XWELL’s common stock has declined in value by appro ...