Voya Financial Seeks Regulatory Intervention Amid Toms Capital's 'No Confidence' Campaign

MT Newswires Live
Aug 07

Voya Financial (VOYA) said Friday it is seeking regulatory intervention against Toms Capital Investment Management as it advised shareholders that there is no upcoming stockholders meeting and there are no matters for shareholders to vote on.

The company said Toms Capital's recent actions are "manipulative and deceptive."

Toms Capital said Thursday that it has filed preliminary proxy materials to allow Voya shareholders to vote on a non-binding resolution saying they no longer have confidence in Voya's board. Toms Capital said it manages funds that hold a 4.5% economic interest in Voya.

Toms Capital said the company's Q2 results were "disappointing" and that Voya was unwilling to engage with credible potential acquirers and consider other strategic alternatives.

Voya said the materials provided by Toms Capital contained "inaccurate and misleading" statements.

Price: 100.46, Change: -1.04, Percent Change: -1.02

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10