Solera Bancorp announces dispute over board membership
Last Updated: 18:07 March 25, 2014
Shareholder Michael Quagliano submitted a notice that he intends to nominate seven people, including himself, for election as directors at Solera's annual meeting, to be held May 22 in Denver.
Solera also received a notice from a former company executive, Kathleen Stout, that she intends to nominate eight people to the company's board at the annual meeting. Stout was terminated from her position in December, and in the notice indicated that she would like to be rehired for her former position.
The board decided not to recommend the people in either notice for nomination, but instead decided to nominate for re-election 11 of the current 13 board members.
Solera has a mortgage origination office in Boulder. The holding company is traded over-the-counter (OTCQB:SLRK).
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