Clinton Group To Nominate Controlling Slate To Board Of Arlington - Quick Facts

(RTTNews) - Arlington Asset Investment Corp. (AI) announced it has received a notice from Imation Corp. (IMN), acting in concert with a fund affiliated with Clinton Group, Inc., of its intent to nominate a controlling slate of six candidates to stand for election to the company's eight-member Board. Arlington announced it has filed preliminary proxy statement and related proxy materials for the 2016 Annual Meeting of Shareholders with the SEC recommending that shareholders vote for all of Arlington's director nominees.

Arlington stated: "We believe that shareholders should be very concerned that the Imation Group, which collectively owns less than 0.1% of the company's shares and only very recently purchased its shares, took this aggressive action prior to ever engaging in any discussions with Arlington. To date, the Imation Group has refused to disclose their strategic plan for the Company, if any."