The Wynnefield Group, the largest stockholder in Crown Crafts Inc. (NASDAQ: CRWS or “the Company”), said today that Mr. Melvin Keating and Mr. Jon Biro, two directors elected by Crown Crafts shareholders to the Company’s Board of Directors in August 2010, have donated to charity 50% of their cash retainer in excess of $20,000, after payment of taxes, as was stated in the Proxy Statement filed by the Wynnefield Group in July, 2010.
Mr. Biro has directed his donation to the American SIDS Institute and Mr. Keating has directed his donation to the R Baby Foundation, two organizations committed to infant health.
ABOUT THE WYNNEFIELD GROUP
The Wynnefield Group is Crown Crafts’ largest stockholder, holding approximately 17% of the Company’s outstanding common stock. Established in 1992, the Wynnefield Group includes several affiliates of Wynnefield Capital, Inc., a value investor specializing in U.S. small cap situations that have company- or industry-specific catalysts.