Dream Chasers says Carver blocked turnaround expert nomination

Dream Chasers Capital Group, the leading shareholder of Carver Bancorp Inc. (OTCQB: CARV), said the bank's board blocked the nomination of Moishe Gubin and Greg Lewis for director positions.

Gubin serves as chairman of OptimumBank Holdings Inc. (NASDAQ: OPHC), while Lewis is CEO of Dream Chasers. The shareholder group said Carver's board rejected the nominations despite failed negotiations and cited concerns about corporate governance moves.

According to Dream Chasers, negotiations broke down after Carver offered board observation seats rather than full director positions. The company said Carver announced delisting plans 24 hours after talks ended in November 2025, causing the stock price to drop 50%.

Dream Chasers submitted nominations for Gubin and Lewis on February 20, 2026. On March 5, three days before an SEC deadline, Carver's board informed the group of deficiencies in the nomination and plans to block the independent nominees.

The shareholder group said it is monitoring Barry Mann's emergence as a 10% filer through a Schedule 13D filing. Dream Chasers expressed concern this could be a move to dilute retail shareholders who previously opposed current board policies.

Dream Chasers said it has support from 70% of retail shareholders and plans to continue advocating for board changes ahead of the May 21, 2026 annual meeting. The group warned shareholders to watch for anti-takeover moves or stock issuances that don't reflect intrinsic value.

Under Gubin's leadership, OptimumBank cleared a decade-long consent order and reported record net income of $16.65 million for 2025. The bank grew assets from $100 million to over $1.11 billion while maintaining a 49.59% efficiency ratio, according to the press release.

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