PHILADELPHIA, July 7, 2022 /PRNewswire/ — Tonight, four members of the Cohen / Madonna Faction dispensed with all semblance of corporate governance to push their nominee, Ben Duster, who has multiple business interests in which Steven A. Cohen has invested, onto the Board of Republic First. The three Hill directors were not provided an opportunity to meet with or even speak to him before the vote. The Cohen/Madonna faction abandoned all norms of good corporate governance and the Company’s own past practice of vetting proposed candidates for the board.
The Cohen / Madonna Faction refused our specific request to meet Mr. Duster prior to the vote or to consider any candidate proposed by the Hill directors, and refused to permit debate or even provide any meaningful information about their chosen nominee. This is a shocking and unfortunate dereliction of the Cohen / Madonna Faction’s fiduciary duties to FRBK’s shareholders.
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SOURCE Republic Bank Hill Directors