Acclaim, facing the possibility of being removed from the Nasdaq securities index, plans to implement a shareholder's rights program. This plan would discourage third parties from purchasing the company's stock from private sources or in the open market without first offering a fair price to current stockholders.
Acclaim insists that the implementation of the shareholder's rights program is not meant to discourage takeover bids. It is solely a move by the board of directors to ensure that shareholders receive a full and fair price for the company's stock.
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