Concerned Hudson Stockholders File 13D with SEC to Implement Corporate Governance Improvements

NEW YORK--()--Heartland Advisors, Inc. and other stockholders of Hudson Global, Inc. (collectively, the “Concerned Hudson Stockholders” or “we”), announce the following:

Concerned Hudson Stockholders is a group of stockholders who combined own more than 14% of Hudson Global, Inc. (Nasdaq:HSON) (“HSON”). We are dedicated to improving corporate governance at HSON and call upon the Board of Directors to immediately take appropriate action to implement improvements. Such improvements are needed in order to bring HSON into compliance with best practices set forth by many corporations, institutional investors and proxy advisory firms. Such improvements to corporate governance include, but are not limited to:

  • eliminating the classified Board of Directors structure;
  • eliminating the poison pill;
  • changing Board of Directors election requirements to provide that directors are elected by a majority vote;
  • allowing a majority of the stockholders to take action by written consent; and
  • providing stockholders with the opportunity to call a special meeting.

Over the past ten years, while the value of all major stock market indexes has appreciated substantially, the share price of HSON has declined in value by more than 60%. Concerned Hudson Stockholders believe it is time for the Board of Directors to implement best practices of corporate governance and welcomes input from other stockholders.

About the Concerned Hudson Stockholders:

The participants of Concerned Hudson Stockholders are Heartland Advisors, Inc., Alfred John Knapp, Jr., Mark Stolper, Charles M. Gilman, and other stockholders set forth in the Schedule 13D filed with the Securities and Exchange Commission (“SEC”) on December 2, 2013.

John Altorelli (John.Altorelli@dlapiper.com) and Patrick Costello (Patrick.Costello@dlapiper.com) of DLA Piper LLP (US) serve as legal counsel to Concerned Hudson Stockholders.

THIS RELEASE IS NOT A SOLICITATION OF ANY ACTION BY STOCKHOLDERS OF HSON. CONCERNED HUDSON STOCKHOLDERS DO NOT CURRENTLY INTEND TO SOLICIT PROXIES EXCEPT PURSUANT TO SEC RULE 14a-2(b)(2). IF A PROXY STATEMENT IS COMPLETED AND FILED BY THE CONCERNED HUDSON STOCKHOLDERS, STOCKHOLDERS OF HSON ARE ADVISED TO READ THE PROXY STATEMENT WHEN IT BECOMES AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION AND STOCKHOLDERS SHOULD RELY ON SUCH PROXY STATEMENT AND NOT ON THIS PRESS RELEASE. THE PROXY STATEMENT, IF FILED, TOGETHER WITH ANY OTHER RELEVANT DOCUMENTS WILL BE AVAILABLE WITHOUT CHARGE ON THE SEC'S WEBSITE AT WWW.SEC.GOV. INFORMATION REGARDING THE CONCERNED HUDSON STOCKHOLDERS, INCLUDING THEIR DIRECT OR INDIRECT INTERESTS, BY SECURITY HOLDINGS OR OTHERWISE IN HSON, IS CONTAINED IN THEIR SCHEDULE 13D INITIALLY FILED WITH THE SEC ON DECEMBER 2, 2013, WHICH IS AVAILABLE WITHOUT CHARGE ON THE SEC'S WEBSITE AT WWW. SEC.GOV.

Contacts

For Concerned Hudson Stockholders
John Altorelli, 212-335-4620
or
Patrick Costello, 212-335-4545

Release Summary

Heartland Advisors, Inc. and other stockholders of Hudson Global, Inc. ( “Concerned Hudson Stockholders”) have filed a Schedule 13D with the SEC.

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Contacts

For Concerned Hudson Stockholders
John Altorelli, 212-335-4620
or
Patrick Costello, 212-335-4545