The letter calls the bid “an under-priced predatory deal for the company,” and restates its plea to the board for more information. Dolphin said the board has not yet responded.
Dolphin, which holds more than 1.6 million shares (3%) of infoUSA, is one of two company shareholders—the other is Cardinal Capital Management—that have requested information from infoUSA and its board about activities. Dolphin also filed a complaint against infoUSA in chancery court in Delaware in September. In October, Cardinal filed with the Securities and Exchange Commission, demanding specific infoUSA documents.
A trial date for the Delaware complaint is set for Dec. 8.