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- May 2nd Cumulus had their annual shareholders meeting and they were not talking about what their angry investors did.
- They approved one thing – their account firm.
- When asked to re-elect their board of directors, a surprising and resounding outcome.
- The company is still laying employees off and shrinking operations so when they asked shareholders to show a financial vote of confidence in them, an even greater surprise.
- What’s really going on here – a questionable debt exchange deal, a second bankruptcy and a growing rift between investors and their top management.
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