One of Yelp's biggest investors says its patience has 'worn out,' and is urging management to make changes or sell the company (YELP)

Eric Risberg/AP

• One of Yelp's largest shareholders, SQN Investors LP, urged management to refresh its board of directors to create significant value for investors. If not, SQN says it should sell the company.
• Yelp traded above $90 a share back in 2014 when there were fewer business ratings and reviews platforms. But shares have since tanked more than 60%.
• SQN said the stock's underperformance is largely due to poor corporate governance, and said it is prepared to launch a proxy fight if the board doesn’t make changes.
• Watch Yelp trade live.

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Yelp jumped almost 2% early Wednesday after one of its largest shareholders urged management to refresh its board of directors to create significant value for investors.

The user-review website is a "unique and highly strategic asset that has significant runway to grow and expand profit margins if managed properly," SQN Investors LP, an investment firm that claimed it has a more than 4% stake in Yelp, said in a published letter.

See the rest of the story at Business Insider

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from Business Insider https://read.bi/2VXnXu5