SAN FRANCISCO, April 26, 2016 /PRNewswire/ -- Marcato Capital Management LP ("Marcato"), a San Francisco-based investment manager which manages funds that beneficially own approximately 4.8% of the outstanding common shares of Epiq Systems, Inc. (NASDAQ: EPIQ) ("Epiq" or the "Company"), today released a detailed presentation to Epiq shareholders outlining its analysis of the Company and its conclusion that significant change at the board and management levels is needed in order to maximize shareholder value.
The presentation can be viewed at http://origin-qps.onstreammedia.com/origin/multivu_archive/ENR/Marcato-Presentation.pdf
Shawn Badlani, Partner at Marcato, stated: "The Epiq Systems board has been ineffective by failing to hold management accountable for repeatedly missing its own financial forecasts, overseeing a company that has significantly underperformed its peers and benchmarks, and rejecting a prior premium cash offer that the stock has not approached for over eight years. Quite simply, change at the board level is necessary to prevent further value erosion."
Marcato Capital Management
The views expressed in this press release represent the opinions of Marcato Capital Management LP, its affiliates and the funds it manages (collectively, "Marcato"). This press release and the presentation to which it refers are provided merely for general information purposes. Nothing in those documents is, or should be construed as, investment advice or as a recommendation, invitation or inducement to engage in any investment activity, and should not be used as the basis for any investment decision. Any views expressed are given as of the date of this press release, and are subject to change without notice. Marcato reserves the right to change any of its opinions expressed herein at any time as it deems appropriate. Marcato disclaims any obligation to update the information or opinions contained in this press release. For additional information, see the "Disclaimer" section of the presentation to which this press release refers.
This press release contains forward-looking statements. All statements contained in this press release that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "anticipate," "believe," "expect," "potential," "opportunity," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. Any forward-looking statements reflect Marcato's views with respect to, among other things, future events and financial performance. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if Marcato's underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly, forward-looking statements should not be regarded as a representation by Marcato that the future plans, estimates or expectations contemplated will ever be achieved.
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SOURCE Marcato Capital Management LP