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GameStop Investors Threaten Proxy Fight

Rob Lenihan

investors threatened a proxy fight if the videogame retailer doesn't take steps to improve its performance, including changing its board. In a letter to the directors of the Grapevine, Texas-based company, executives at Permit Capital Enterprise Fund L.P. and Hestia Capital Partners LP said GameStop has "dramatically underperfomed" the company's self-identified peer group, the Russell 2000 and the S&P 500. The two firms have a combined 1.3% stake in GameStop.