Oak Investment Partners Responds to Maguire Asset Management's Offer to Buy Stake in U.S. Auto Parts
PALO ALTO, Calif., Sept. 26, 2013 /PRNewswire/ -- Oak Investment Partners issued the following statement today in response to a press release issued yesterday by Maguire Asset Management:
"Oak Investment Partners is not interested in selling our shares in U.S. Auto Parts at this time. We are long-term investors in the company and believe in U.S. Auto Parts' long-term potential and strategic value in the online auto-parts industry. We fully support the company's CEO, Shane Evangelist, and its Board of Directors, and strongly believe in this management team's ability to lead the company forward successfully."
SOURCE Oak Investment Partners