Institutional Shareholder Services Backs Ader Group in IGT Proxy Battle
Institutional Shareholder Services (ISS) recommends that shareholders of International Game Technology (NYSE: IGT) use the GOLD proxy card to vote at the company’s March 5th annual meeting. ISS is one of the nation’s leading independent proxy voting advisory firms, providing voting recommendations to thousands of pension and mutual funds and other institutional investors.
ISS supports Ader Group’s stating: “In the company’s continuing difficulties in redressing the weakness of its core business segments, the uncertainty about the potential of the online diversification efforts, and the sustained shareholder doubt reflected in IGT’s persistent stock underperformance, the dissidents have demonstrated a compelling case for a greater shareholder perspective on the board.”
ISS furhter stated :“Even given the stark underperformance of the casino equipment industry generally, IGT has lagged many of its industry peers and competitors over the past 1, 3, and 5 years. Most notably, IGT declined by 11.7% in 2012, compared to a return of 16.7% by the S&P 500 and an increase of 18.2% among its industry peers, demonstrating the dissident’s contention that IGT has not participated in the sector or the broader market recovery.”
