NEW YORK, June 13, 2014 /PRNewswire/ -- Clinton Group, Inc.
("Clinton Group") today called upon ValueVision Media, Inc.
(Nasdaq: VVTV) to assure its vendors and employees that they can
exercise their voting rights at the Company's upcoming June 18 annual meeting without fear of
reprisal.
"We are disturbed that we have heard from multiple employees and
vendors that they are afraid to vote their shares for us because
they fear management will retaliate against them," said
Gregory P. Taxin, President of
Clinton Group. "We believe every shareholder is entitled to vote
without coercion and we welcome the participation of the Company's
employees and vendors in this process."
Clinton Group's nominees have committed that they will not treat
any employee or vendor who votes against the nominees differently
than employees and vendors who side with the Clinton Group, in the
event the Clinton Group nominees are elected. Clinton Group
believes the Company should provide the same assurance.
"The Company's management and Board should assure the Company's
valuable employees and vendors that they may freely exercise their
voting rights without fear of retaliation," continued Mr. Taxin.
"In my opinion, anything less is an abuse of corporate position and
inconsistent with Mr. Stewart's June
12 email to employees."
Employees and vendors can vote shares held at brokerage firms
online and anonymously in favor of the Clinton Group nominees by
using the "control number" on the GOLD proxy card. Employees and
vendors with "registered" shares can scan and email those ballots
to Clinton Group (VVTV@okapipartners.com). Alternatively, employees
and vendors can come to the Company's annual meeting to vote (on
June 18 at 9
AM at the Company's headquarters) or meet the Clinton Group
team at the Minneapolis Marriott Southwest in Minnetonka, Minnesota, on Tuesday, June 17 from 5 to
7 pm at Stacy's Grill,
where they can fill out a ballot or drop one off.
Clinton Group encourages its fellow shareholders to review the
materials it has prepared, which are available at
www.AddValueAndVision.com.
Shareholders with questions should contact Bruce Goldfarb or Lydia
Mulyk at Okapi Partners LLC at (212) 297-0720, Toll-Free
(855) 305-0857, or VVTV@okapipartners.com.
About Clinton Group, Inc.
Clinton Group, Inc. is a Registered Investment Advisor based
in New York City. The firm has been investing in global
markets since its inception in 1991 with expertise that spans a
wide range of investment styles and asset classes.
Important Additional Information
CLINTON RELATIONAL OPPORTUNITY MASTER FUND, L.P., CLINTON
RELATIONAL OPPORTUNITY, LLC, GEH CAPITAL, INC., CLINTON SPECIAL
OPPORTUNITIES MASTER FUND, LTD., CHANNEL COMMERCE PARTNERS, L.P.,
CLINTON GROUP, INC., GEORGE E. HALL
(COLLECTIVELY, "CLINTON") THOMAS D.
BEERS, MARK BOZEK,
RONALD L. FRASCH, THOMAS D. MOTTOLA, ROBERT ROSENBLATT AND FRED
SIEGEL (TOGETHER WITH CLINTON, THE "PARTICIPANTS") AND/OR CERTAIN
AFFILIATED PARTIES HAVE FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION (THE "SEC") A DEFINITIVE PROXY STATEMENT AND
ACCOMPANYING FORM OF PROXY CARD TO BE USED IN CONNECTION WITH THE
PARTICIPANTS' SOLICITATION OF PROXIES FROM THE STOCKHOLDERS OF
VALUEVISION MEDIA, INC. (THE "COMPANY") FOR USE AT THE COMPANY'S
2014 ANNUAL MEETING OF STOCKHOLDERS (THE "PROXY
SOLICITATION"). ALL STOCKHOLDERS OF THE COMPANY ARE ADVISED
TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS RELATED
TO THE PROXY SOLICITATION BY THE PARTICIPANTS BECAUSE THEY CONTAIN
IMPORTANT INFORMATION, INCLUDING ADDITIONAL INFORMATION RELATED TO
THE PARTICIPANTS. THE DEFINITIVE PROXY STATEMENT AND ACCOMPANYING
PROXY CARD HAVE BEEN FURNISHED TO SOME OR ALL OF THE COMPANY'S
STOCKHOLDERS AND ARE, ALONG WITH OTHER RELEVANT DOCUMENTS,
AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT
HTTP://WWW.SEC.GOV/. IN ADDITION, OKAPI PARTNERS LLC,
CLINTON'S PROXY SOLICITOR, WILL PROVIDE COPIES OF THE DEFINITIVE
PROXY STATEMENT AND ACCOMPANYING PROXY CARD WITHOUT CHARGE UPON
REQUEST BY CALLING (212) 297-0720 OR TOLL FREE AT (855)
305-0857.
ADDITIONAL INFORMATION ABOUT THE PARTICIPANTS AND A DESCRIPTION
OF THEIR DIRECT OR INDIRECT INTERESTS BY SECURITY HOLDINGS IS
CONTAINED IN THE DEFINITIVE PROXY STATEMENT ON SCHEDULE 14A FILED
BY CLINTON ON MAY 13, 2014 AND IN THE DEFINITIVE ADDITIONAL
MATERIALS ON SCHEDULE 14A FILED BY CLINTON
ON MAY 22, 2014 AND
JUNE 6, 2014. THESE DOCUMENTS CAN BE
OBTAINED FREE OF CHARGE FROM THE SOURCES INDICATED ABOVE.
SOURCE Clinton Group, Inc.