AIM ImmunoTech stockholder Kellner Group issues letter on Board vote

AIM Immunotech (AIM) stockholder Ted Kellner, as the nominating stockholder and a nominee, together with his other nominees, issued a statement in connection with the incumbent Board of Directors of AIM Immunotech. The statement includes, among things, the following: “the Delaware Supreme Court ruled that the incumbent Board breached its fiduciary duties to stockholders”; “the AIM Board wasted millions in furtherance of improper purpose”; “stockholders are urged to act now before the Board’s self-interested behavior irreversibly damages the company”; “stockholders should not be fooled by misleading statements by AIM Board”; “Kellner Group nominees bring skills, experience and credibility necessary for AIM to be successful”; ” Based on AIM’s own disclosures, we estimate that the incumbent Board has spent between $15.0M to $20.0M in just the past two years in their bad faith effort to prevent a meaningful election of directors and maintain control”; “All of the incumbent Board members bear responsibility and must be held accountable”; “The incumbent Board’s primary argument for its election – suggesting that the Kellner Group includes criminals – is completely and demonstrably false”; “The incumbent Board’s breach of fiduciary duties, gross waste and lack of transparency are disqualifying”.