Investors Criticize Magnum Over Ben & Jerrys Handling
Shareholders led by NorthStar Asset Management have criticized Magnum for its management of Ben & Jerrys. They now seek financial data and board independence.
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Shareholders holding $1.3 million in Magnum stock criticized the firm over its management of the Ben & Jerry's brand and financial opacity. The investor group, which manages billions of dollars in assets, sent a formal letter ahead of the May 7 annual general meeting. NorthStar Asset Management and fellow shareholders demanded standalone profit data and clarity on how Magnum would preserve the Ben & Jerry's board's independence.
