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Activist investor takes 13% stake in Malvern-based Neuronetics, seeks board seat

·2 min read
Activist investor takes 13% stake in Malvern-based Neuronetics, seeks board seat
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Activities investor J. Carlo Cannell has acquired a nearly 13% stake in Malvern-based Neuronetics and is seeking a seat on the medical device developer's board of directors. Cannell is director of Cannell Capital, a Wyoming hedge fund with nearly $900 million in discretionary assets under management. It holdings include stakes in North American Construction Group, Office Depot and Build-a-Bear Workshop.