Sotheby's Holdings Inc Issues letter to shareholders, reiterates Mr. Loeb has offered no strategy to create value
- Sotheby's: Sotheby's preliminary results for the first quarter of 2014 demonstrate that we are successfully executing our strategic plan and are building on the momentum we created in 2013;
The Sotheby's Board is independent, active, engaged and focused on further increasing shareholder value;
Mr. Loeb has offered no strategy to create value and has made no case that change is warranted at Sotheby's, as further demonstrated by the Company's strong preliminary first quarter 2014 financial results;
Mr. Loeb's pattern of disruptive behavior has negatively impacted Sotheby's business and relationships; and Sotheby's director nominees bring the experience and skills necessary to continue driving shareholder value and deserve your vote.