Vera Bradley adopts rights plan to ‘guard against abusive tactics’

Vera Bradley announced that its board unanimously approved the adoption of a limited duration shareholder rights plan “to protect shareholders’ interests and maximize value for all shareholders.” The company said, “The Rights Plan is similar to plans adopted by other public companies and is designed to ensure that all the Company’s shareholders have the opportunity to realize the long-term value of their investment in the Company and to guard against abusive tactics so that no person, entity or group can gain a control or control-like position in the Company through open market accumulations of the Company’s common stock or other tactics potentially disadvantaging the interests of the Company’s shareholders without negotiating with the Board and without paying an appropriate control premium to all shareholders.” The rights plan is effective immediately and will expire on October 11, 2025.