Exclusive: Five9 nears settlement with Anson Funds under activist pressure

Svea Herbst-Bayliss - Reuters - 09/12
Five9 is nearing a settlement with Anson Funds Management after the hedge fund and several other activist investors pushed the U.S. call center software company to make changes that would boost its share price, sources familiar with the matter said on Sunday.
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NEW YORK, Dec 8 (Reuters) - Five9 (FIVN.O), opens new tab is nearing a settlement with Anson Funds Management after the hedge fund and several other activist investors pushed the U.S. call center software company to make changes that would boost its share price, sources familiar with the matter said on Sunday.
Anson Funds' portfolio manager Sagar Gupta would receive a board seat under the terms that are being discussed, said the people who requested anonymity because the negotiations are private. The board has nine members.
An agreement could be announced as early as Monday, but the situation remains fluid, the sources said.
Representatives for Five9 and Anson Funds declined to comment.
Reuters first reported in July that Anson had amassed a stake in Five9 and was engaging with the company. In October Reuters reported that Legion Partners had also built a stake in the company and asked for a board seat, making it the second activist invest...
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