JCP Investments Still Trying To Take Out The Casella Waste Systems Inc. (CWST)

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JCP Investments Still Trying To Take Out The Casella Waste Systems Inc. (CWST)

JCP Investments Still Trying To Take Out The Casella Waste Systems Inc. (CWST) by Stock Pucker

JCP Investment is taking Casella Waste to task again, putting out a letter and presentation. A name we covered in April as part of Activist Strategy – Jim Pappas andJCP usually do good work. Don’t forget – sign up for our free daily newsletter to stay in the activist investing know.

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Here’s the jist –  the fund owns 5.7%. They’ve tried working with the board to no avail. The company has been working against JCP. Casella has underperformed for over a decade given the family-entrenched management team and supervoting Class B shares. There’s been various related party transactions and possible under the table dealings. The fix is new management and governance overhaul. JCP has nominated board members and looks to wage a proxy battle.

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Casella puts out a detailed letter [here], as well as presentation [here].

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