The two funds, which own 6.3% of the company’s shares, have long been critical PERY’s corporate governance and its control by the Feldenkreis family. They have nominated three outside directors to the board, saying they are deeply disappointed in the firm’s inability to meet its financial targets and the performance of the stock price over the last 10 years, so want to instill a sense of urgency in the board to improve performance. The family controls 26.4% of the stock.

Among other things, PERY has been criticized by shareholders for putting the Perry Ellis underwear license in the hands of COO ... Log in to view full article.