AVI vows to continue Third Point dispute in 'private' after losing vote

Targoff remains on Third Point board

Asset Value Investors has called on Third Point’s board to take the dispute over non-executive director Josh Targoff’s position behind closed doors, following a defeated vote to remove him from the board.

The investment house joined forces with other shareholders Metage Capital and Global Value Fund in a bid to oust Targoff from the board, but to no avail. Third Point chief executive Dan Loeb is said to have used his 17% stake to keep the investors at bay, putting an end to a dispute between firms ongoing for months. In a joint statement, AVI, Metage and Global Value Fund vowed to continue the battle behind closed doors, despite losing the vote. AVI calls on Third Point shareholders to ditch director "We understand that Daniel Loeb, CEO of Third Point LLC, voted his 17% stake aga...