LL Flooring mails letter to shareholders highlighting ‘qualified’ directors

LL Flooring Holdings mailed a letter to shareholders in connection with the filing of its definitive proxy statement with the Securities and Exchange Commission SEC for its upcoming 2024 Annual Meeting of Stockholders. The Company also launched www.VoteLLFlooring.com, which provides additional information and resources to help shareholders vote at the 2024 Annual Meeting of Stockholders. The letter contains critical information for shareholders’ decision-making, including: LL Flooring has a highly qualified and engaged Board with the right mix of skills and expertise to oversee the Company’s strategic direction. The company’s Board of Directors and management team have determined a set of five strategic priorities and are taking decisive action to deliver on those priorities to drive value creation. The Board is also taking action to address near-term financing needs. Through its previously announced strategic alternatives review process, the Board has been carefully and thoroughly evaluating and engaging with third parties regarding indications of interest and non-binding proposals to acquire the company. Thomas Sullivan has launched a proxy contest that is self-serving, personal and not in the best interests of all shareholders, and the Board believes he would push a personal agenda to acquire LL Flooring at a price that may undervalue the company if elected to the Board. Jerald Hammann, who has nominated himself to the Board, only owns a few shares of the company’s stock, lacks a cogent plan for LL Flooring and is not qualified to serve on LL Flooring’s Board.