Gamestop Gets Letter From Hedge Fund Tiger Managment Calling for Strategic Review

Gamestop (GME) received a letter from hedge fund Tiger Management urging the video game retailer to conduct a strategic review amid management departures, CNBC reported Wednesday.

“We view the recent management departures and crisis of confidence as an unprecedented opportunity for the board to launch a strategic review and revive shareholder confidence in the sustainability of the GameStop business model,” Tiger said in a letter seen by CNBC.

Tiger said in the letter that it plans to “remain a passive shareholder” and has “no intention of becoming an activist investor,” according to the report. Tiger said if Gamestop failed to carry out a review it would sell its holding and invest the capital elsewhere.

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