Moore to follow Cummins and Westbrook out of Cyberonics?:
This article was originally published in Clinica
Executive Summary
A major shareholder in vagus nerve stimulation device make Cyberonics (Houston, Texas) has demanded the removal of Kevin Moore as director, and is seeking his return of fees and stock options. Metropolitan Capital Advisors (MCA) has given the company ten days to take the action against Mr Moore, who, it maintains, was not lawfully a member of the board, having not stood for election at the company's 2004 and 2005 AGM. MCA representatives also criticised the appointment of Tony Coelho as chairman (see Clinica No 1233, p 17), saying he had a role in the granting of options, with "serious consequences for Cyberonics".