This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Wynnefield Group’s Nominees Create Value For All Stockholders

The Wynnefield Group, the largest stockholder in Crown Crafts Inc. (NASDAQ: CRWS), today urged stockholders to remain focused on the real issues in the campaign to create value for all stockholders. Wynnefield, a long-term investor in Crown Crafts, has nominated two highly qualified independent directors for election at the August 10, 2010 Annual Meeting of Stockholders.

The key question for stockholders is, “Are you really happy with a stock price of $4.00 per share or do you think there is more stockholder value that can be realized?” A stockholder who had invested in December 2006 at $4.00 would still be stuck at $4.00. Stockholders deserve much better.

Our Nominees’ Experience and Commitment to Stockholder Value

Wynnefield and Wynnefield’s nominees have a history of realizing value for all stockholders. Wynnefield’s director-nominees, Mel Keating and Jon Biro, have created value in every case and are committed to working constructively with the rest of the Board to increase value for all stockholders.

Mr. Keating has many years of wide-ranging experience serving on the boards of public companies – many of which faced challenges.

  • Mr. Keating joined the White Electronic Designs Corp. Board in February 2009 when the stock price was $4.00 and had a market cap of $84 million.
  • White Electronic Designs Corp. honored the results of a negotiated settlement, unlike Crown Crafts, and formed a real strategic review committee on which Mr. Keating served.
  • After all strategic alternatives were analyzed, under Mr. Keating’s leadership, that company sold at a 75% premium to the pre-transaction price.

Mr. Biro is the CFO of a large public company and a certified public accountant with in-depth business experience in finance and has served as a director of public companies in a range of industries.

  • Mr. Biro joined the Aspect Medical Board in April of 2009 when the stock price was $4.29.
  • Mr. Biro, along with Mr. Keating, reported to the Board at the behest of that company’s largest stockholder.
  • That company was sold at $12 per share in September of 2009, an increase of 179% in five months.

Recent News About Crown Crafts’ Director-Nominee

Crown Crafts’ management-endorsed Board majority is apparently feeling the pressure of Wynnefield’s campaign. The Company’s Board and its Chairman/CEO Randall Chestnut have a long history of negative campaigning. It has used personal attacks against the people of Wynnefield in the past. Wynnefield reluctantly needs to respond with facts about the recent Crown Crafts’ director-nominee.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs