Wednesday, July 17, 2013
AeroVironment Gears Up For Fight With Activist Investor Group
Monrovia-based AeroVironment released a response Wednesday to activist investor Engaged Capital, which has taken a 5 percent stake in the maker of unmanned aerial vehicles and electric charging stations. According to the WSJ, Engaged Capital has been buying AeroVironment's stock, and has been engaging in discussions with AeroVironment's management, in an attempt to boost the company's stock price. Engaged Capital is an investor based in Newport Beach. AeroVironment said it will "continue to focus on our fiscal 2014 plan to maintain our market leadership in Unmanned Aircraft Systems and electric transportation solutions."