Legion Partners has built a stake in Five9 (FIVN) and is pushing for a board seat and cost cuts, Svea Herbst-Bayliss of Reuters reports, citing two sources familiar with the matter. Legion’s involvement comes months after Anson Funds Management built its stake and began urging the company to consider a sale, Reuters reported in July. In addition to pushing for one board seat, Legion wants the company to cut costs, sources told Reuters. Shares of Five9 are down 23c to $30.69 in afternoon trading.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on FIVN:
- Jefferies software analysts hold an analyst/industry conference call
- Five9 price target lowered to $37 from $45 at Morgan Stanley
- Five9 announces two new data centers in India
- Verint and Five9 deepen partnership for for AI-driven customer experience
- DA Davidson technology analyst holds an analyst/industry conference call
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
