By Svea Herbst-Bayliss
NEW YORK, Oct 16 (Reuters) - Hedge fund JAT Capital on Monday urged Overstock.com to consider selling certain assets and overhauling its management and compensation, warning it may seek board seats if its suggestions are ignored, a regulatory filing on Monday showed.
The hedge fund, run by John Thaler, owns a 9.1% stake in Overstock.com, and made its demands public in the filing after sending a letter outlining its wishes to the company last week.
Overstock's stock price climbed nearly 9% after the filing.
Overstock.com, which spent $21.5 million to buy certain intellectual property assets from Bed Bath & Beyond a few months ago, did not immediately respond to a request for comment.
JAT is not traditionally an activist investor but its filing signaled mounting frustration with the company and left open the option of pursuing strategies like running a proxy contest.
JAT also wants the company to emphasize stock option participation and develop a business plan with financial objectives, the filing said.
"The Reporting Persons may consider to seek Board representation to the extent the above recommendations have not been explored, pursued and executed satisfactorily."
(Reporting by Svea Herbst-Bayliss; Editing by Richard Chang)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters Messaging: svea.herbst.thomsonreuters.com@reuters.net))
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。