In a story from thenewspaper.com, Redflex Traffic Systems leadership reportedly could be ousted if major shareholders get their way.
The story is quoted as saying, “The number one operator of photo enforcement in the US, Redflex Traffic Systems, engaged in a public battle of words with its three largest shareholders this week. Thorney Holdings Ltd, Hunter Hall and Renaissance joined to force a shareholder vote to remove Redflex Chairman Chris Cooper and Directors Peter Lewinsky and Roger Sawley. The renegade investors, who hold 28 percent of the company stock, are upset with the mismanagement exemplified in the Redflex stock price and the “expensive failure” of the Arizona freeway photo radar contract.”
This is the strongest language used to date by investors describing Redflex’s very public failures in Arizona.