Villere Proposes Independent Director Slate for EPIQ Board

NEW ORLEANS, Sept. 19, 2014 /PRNewswire/ -- As the largest beneficial shareholder of Epiq Systems, Inc. (NASDAQ: EPIQ), St. Denis J. Villere & Company, L.L.C.  ("Villere") has filed a Schedule 13D with the Securities and Exchange Commission. The filing discloses that Villere has proposed that Epiq explore strategic alternatives to enhance shareholder value and that Villere intends to propose a slate of directors for the 2015 EPIQ annual shareholder meeting. Villere is a registered investment advisor and manages accounts, along with holdings of its principals, controlling a 16 percent stake in Epiq. 

Villere believes that EPIQ common stock at current market prices is undervalued. The stock's performance has lagged the Russell 3000, a benchmark that tracks the performance of the broad U.S. equity market during the past one-, five- and 10-year periods, indicative of the fact that the company's value may not be being recognized in the marketplace.

"We believe that while Epiq has a strong business and has grown its operations commendably; however, shareholders have not been able to enjoy a commensurate return on their investment.  We are focused on maximizing shareholder value for both our clients and other Epiq shareholders," said George V. Young, a partner in the firm.

While shareholder activism is not typical for Villere, Young explained that the firm has a fiduciary duty to its clients and shareholders to unlock value in the companies it owns. "We have been forced to take action. We will be nominating a slate of directors for the board because we believe that the board could benefit from an independent perspective in evaluating potential strategic alternatives for the company's future," he added.

The slate of board members to be proposed by Villere will be prepared to review a number of opportunities that could help Epiq realize its potential to grow its business while realizing more value for the company's shareholders. Villere will file the list of proposed directors by Nov. 1.

"We look forward to continuing to discuss our vision for the company's future with Epiq's management and board and to presenting our slate of directors," Young said. "Our goal is to increase shareholder value and position the company to grow to its full potential."

Villere & Co. is an investment management firm with a 100-year history based in New Orleans, Louisiana. The family-owned firm has more than $3 billion in assets under management including two mutual funds.

About Villere & Co.
Founded over 100 years ago in 1911 by St. Denis J. Villere, Villere & Co. remains a family-run business. An SEC Registered Investment Advisor, it is headquartered in New Orleans. The advisor has been operated continuously since then by four generations of the Villere family. As of 6/30/2013, the firm has approximately $3 billion in assets under management. See www.villere.com for additional information.

Past performance is not a guarantee of future results.

SOURCE Villere & Co.