Bulldog investors alleges hill international board of directors disenfranchised stockholders

Saddle brook, n.j.--(business wire)--bulldog investors, llc (“bulldog”), a major shareholder of hill international (“hill”; nyse: hil) today announced that hill’s board of directors has taken a series of actions to avoid losing a proxy contest to bulldog. at 9:15 am eastern time on august 11, 2016, the board announced that the annual meeting of stockholders, originally scheduled for 11 am eastern time on that day, was cancelled. the board acted with the knowledge that, had the meeting been held as scheduled, all of bulldog’s nominees would have been elected by a margin of approximately two to one and each of bulldog’s proposals would have been adopted by a similar margin. the board also announced that it had increased its size from nine to eleven directors and had added two directors. no reasons were given for any of these actions. phillip goldstein, a principal of bulldog, commented: “we do not believe the board has the legal authority to take any of these actions because they infringe upon the fundamental franchise rights of hill’s stockholders. we remain committed to increasing the value of hill’s shares and to vindicating the right of stockholders to elect directors that they believe share that goal.” about bulldog investors bulldog investors is an sec-registered investment adviser that manages the bulldog investors group of private funds, special opportunities fund, inc. (nyse:spe), a closed-end registered investment company, and the accounts of certain high net worth individuals and institutions. www.bulldoginvestors.com
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