Dillard's (DDS) Sees More Insider Buying As Activist Investor Breaths Down Family's Neck
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Dillard's Inc. (NYSE: DDS) sees more insider buying. Just moments ago it was disclosed that Director Brad Martin bought 30,000 shares today at $4.88, bringing his stake to 100,500 shares.
Yesterday, there were a number of insider buys disclosed on Dillard's, including a 100,000 share buy from Chairman/CEO William T. Dillard and a 100,000 share buy from VP Alex Dillard.
Also, yesterday activist investor Clinton Group sent a letter calling upon the independent Class B directors to work with the Board's Class A directors to immediately begin the process of looking for a new chief executive officer. Clinton Group asked the board to buy back the Dillard family's Class B shares. Clinton Group said, "It is clear to us that the Company's management team led by Mr. Dillard and his siblings must be replaced."
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