NEW YORK, Nov. 17, 2016 /PRNewswire/ -- Statement by Andrew Franklin, president of UTR, LLC, former Design Within Reach ("DWR") shareholder and plaintiff in controversial lawsuit against Herman Miller (NASDAQ: MLHR):
NOTE TO EDITORS: All public materials related to this case have been filed in the Court of the Chancery in the State of Delaware, Case No. 10477-CB. Copies of the plaintiffs answering brief in opposition to the motion for partial summary judgment can be obtained upon request by e-mailing [email protected]. Scott Watnik of Wilk Auslander, LLP and Tom Brown of Morea Schwartz Bradham Friedman & Brown LLP represent Andrew Franklin in this case.
"Following several months of investigation and examination of the issues surrounding improper activity by DWR directors, we have discovered incontrovertible evidence supporting the public speculation that DWR's failure to comply with Delaware law and its own corporate charter renders Herman Miller's acquisition of DWR invalid.
"Despite awareness of this fact and the troubling issues related to this significant problem, Herman Miller has not disclosed any of the material details related to this case to its shareholders. Further, Herman Miller CEO Brian Walker has dismissed the significance of this case in media interviews, a position that conflicts with court filings that detail significant 'defective corporate acts' by the company. Most recently, the court has set January 31, 2017 to hear three motions. Meanwhile, Herman Miller has requested an additional month beyond the original court ordered schedule to complete its brief in response to plaintiffs' opposition.
"Given increased public focus on the concept of 'reputational materiality', and heightened expectation for shareholder transparency promoted by Senator Elizabeth Warren and the CFPB, it is essential that Herman Miller provide a full update on this issue to ensure all its stakeholders are fully educated and informed. And considering the admissions contained within Herman Miller's '204 Notice' (selectively disclosed to some former DWR shareholders), we encourage Herman Miller to fulfill its commitment to honesty and transparency and end the pattern of evasion and obfuscation that has plagued this botched merger."
SOURCE UTR, LLC