Deep Track Capital, LP, a shareholder of Dynavax Technologies (DVAX), commented on the company's disclosure that the Board of Directors has rejected a settlement proposal in connection with its nomination of four candidates for election to the Board. Deep Track Capital said the need for urgent change is clear.
Deep Track stated: "We have consistently tried to work with Dynavax to find a mutually
agreeable path forward that would be in the best interests of all shareholders. Our recent three-part proposal to the company was designed to ensure that a shareholder representative would be in the boardroom and to avoid a costly and distracting proxy contest."
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