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Coppersmith Capital Management, LLC and the other participants in its proxy solicitation (collectively, “Coppersmith”), the fourth-largest stockholder of Alere, Inc. (NYSE: ALR) (“Alere”), owning approximately 7.3% of the shares outstanding, today commented on Alere’s August 2, 2013 letter to stockholders:
Dear Fellow Alere Stockholder:
What do you do when you have a decade of poor performance, no strategy of your own, have been broadly rejected by stockholders and both leading proxy advisors, ISS and Glass Lewis, and are desperate to preserve the status quo and a culture of no accountability? If you are Alere and willing to level scurrilous personal attacks without merit, you engage in an 11
th hour smear campaign to divert attention from your failure to convince stockholders of the logic of your business strategy. Alere’s inflammatory, ad hominem public letter of this past Friday concocted a series of events around our nominee, Curt Hartman, to damage his reputation.
There is no merit whatsoever to any of their accusations.
Curt Hartman is an exemplary executive with an enviable track record of creating value. Moreover, he is a man of the highest personal and professional integrity, whose reputation is above reproach. Neither he nor his family deserves the baseless mudslinging to which Alere
has maliciously resorted. It is shameful that Alere would be so careless and unhinged as to formulate this unjustifiable personal attack – particularly given the very real personal and professional issues that a number of its director nominees carry.
We want to assure Alere stockholders that even though management has lowered themselves to reckless personal attacks on the character and integrity of our three highly-qualified director candidates, we are only more steadfast as a result in our commitment to work constructively with the incumbent board to bring about positive and much needed change to Alere’s culture.