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Activist Says Shutterfly 'Inaction' Could Ignite Proxy Battle

By Maya Rajamani (October 13, 2015, 10:27 PM EDT) -- Shutterfly shareholder Ancora Advisors on Tuesday sent a letter to Shutterfly board chairman Philip Marineau, warning the California-based photo services company could face another proxy fight if it does not reverse its trajectory of "persistent inaction" and respond to calls to change its corporate strategy, capital allocation and executive compensation....

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