WisdomTree board battle reaches climax as AGM approaches

ETFS Capital

WisdomTree’s battle with its largest shareholder over its board has reached a climax ahead of its annual general meeting later this week.

The fight between WisdomTree and ETFS Capital, which holds a combined 18.3% of WisdomTree's outstanding common stock on an as-converted basis, erupted in April over the performance of the firm and the launch of its digital wallet. WisdomTree accused of 'desperate smears' by largest shareholder as conflict escalates In a letter yesterday (12 June), ETFS Capital once again attacked the firm, arguing it has "presided over the destruction of $1bn of stockholder value". In the firm's AGM, scheduled for 16 June, ETFS Capital has nominated three board members to replace Frank Salerno (cha...