Yelp

Big shareholder at Yelp wants a board reshuffle

Saying it's lost patience with missteps and earnings shortfalls, a large shareholder at Yelp is seeking a board reshuffle at the online review site.

In a letter released publicly Monday, SQN Investors said that it wants Yelp Inc. to add some new directors to its board, including shareholder representatives.

SQN, which owns more than 4 percent of Yelp's shares, says it believes that "the board has failed to hold itself and management accountable for the company's strategic and operational missteps, repeated missed earnings, lost opportunities and poor corporate governance."

SQN has built up its stake recently, and is now one of Yelp's top five...

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