JACKSON, Mich. & ST. LOUIS PARK, Minn.--(BUSINESS WIRE)--Richmond Brothers, Inc., a Michigan-based SEC registered investment advisor and wealth management firm that is the largest beneficial owner of Rockwell Medical, Inc. (NASDAQ:RMTI) (“Rockwell” or the “Company”), and Mark H. Ravich, who together with their affiliates beneficially own nearly 6.1 million shares, or 11.7% of the Company’s outstanding common stock, today announced that, based on the preliminary report provided by their proxy solicitor, Rockwell shareholders have overwhelmingly voted to elect Richmond / Ravich’s highly-qualified nominee, Mark H. Ravich, to the Company’s Board at the 2017 Annual Meeting of Shareholders, which was held today.
David S. Richmond, Chairman of Richmond Brothers, Inc., and Mark H. Ravich issued the following statement commenting on the results:
“First and foremost, we would like to express our sincere gratitude to the many Rockwell shareholders – including the largest institutional holders – who have embraced our efforts to bring true change to the Company. The preliminary results from today’s vote are a strong indication of shareholders’ frustration with the performance and governance issues that have characterized Rockwell for years – and a powerful referendum that immediate change is needed at the Company. Needless to say, we are very pleased with this groundswell of support from our fellow shareholders, coupled with the endorsements we received from the three leading, independent proxy advisory firms – ISS, Glass Lewis and Egan Jones. We look forward to Mark bringing a true shareholder perspective and ownership mentality to the Rockwell Board – and we hope that the Company can take the steps that are necessary to change course at this critical moment.”
Final results of the Annual Meeting will be published by the Company once they are certified by the Company’s inspector of elections.
For more information, and to see other communications and filings from Richmond Brothers and Mark H. Ravich, visit this link: http://www.richmondbrothers.com/time-for-action-at-rmti.
About Richmond Brothers, Inc.
Richmond Brothers, Inc. is an SEC registered investment advisor and wealth management firm founded in 1994.
About Mark H. Ravich
Mark H. Ravich is a private investor and currently serves as President of Tri-Star Management, Inc., a commercial real estate management and syndication company that he co-founded in 1998.