Immersion (IMMR) said Monday that its board of directors has adopted a temporary shareholder rights plan, effective through Oct. 31, 2026, to prevent any individual or group from gaining control of the company without fairly compensating shareholders.

The plan will be triggered if any person or group acquires more than 9.99% of Immersion's outstanding common stock, the company said.

The rights plan was approved after the board received a Nov. 3 letter from shareholder Scott A. Larson, which contained claims that are allegedly "inaccurate and misleading."

The company also said it has paused its share repurchase program and currently maintains a closed trading window for insiders until the previously disclosed Barnes & Noble Education investigation concludes.

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