Doma Perpetual nominates three to Pacira board

Doma Perpetual Capital Management, which owns 7.1% of Pacira’s (PCRX) outstanding shares, announced its nomination of three director candidates to Pacira’s board: Christopher Dennis, Oliver Benton Curtis and Eric de Armas. Doma believes “electing these nominees is critical to address the Board’s lack of financial controls, sophistication and legal expertise, and to develop proper management oversight at the Board level.” It added, “Doma’s aim is to generate profit for the Company’s shareholders, who have been forced to weather consistent year-over-year declines in the stock price while Company expenses and Management compensation have soared. Doma believes the Board must avoid taking any further risk with IP battles and has previously privately notified members of the Board of its concern that the Board’s actions may potentially constitute gross negligence.”