Thomas Sullivan, founder of the Company, is attempting to take control of LL Flooring through a costly and distracting proxy contest to install himself and two of his hand-picked employees on your Board of Directors. Given Mr. Sullivan’s actions during the Company’s strategic review process, we believe he may be attempting to force a sale of the Company to himself at a price that may undervalue the Company.
In addition to Mr. Sullivan and his nominees, Jerald Hammann, another individual shareholder of LL Flooring has nominated himself to the Board. Mr. Hammann has a history of nominating himself to corporate boards when owning only a few shares of stock. Indeed, Mr. Hammann only owns 10 shares of LL Flooring stock and fundamentally lacks a cogent plan for LL Flooring along with any distinct skills or experience.