Binance founder Changpeng Zhao’s YZi Labs has launched a bid to stack the board of a BNB buying company it helped to bankroll with its own nominees, citing “destruction” of stockholder value.
In a regulatory filing on Monday, YZi Labs said it wants to cancel all of the company’s bylaw changes since July, expand the size of CEA’s board and elect “our highly-qualified nominees as directors.”
YZi told shareholders that the measures “are necessary to address the continued…
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