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twilio (New York Stock Exchange: TWLO) up 4.6% After hours of deliberation amid a report that activist investor Legion Partners has met with the company and is pushing the telecoms technology company to make changes.
Legion Partners has met several times with the Board of Directors and The company is urging board changes and evaluating liquidations, according to a Report in the information on Tuesday, which cited familiar people.
The discussions come at an important time for Twilio (TWLO) as the use of monitored shares is set to expire in less than a month, according to the report. Other activists have considered targeting Twilio in the past, though the issue of stock oversight has been seen as an obstacle.
Legion Partners indicated in its latest 13F filing from the end of March that it owns 600,000 shares of Twilio (TWLO). TheDeal.com noted In March, that legion disclosed a stake in Twilio.
Twilio (TWLO) announced in February that it plans to cut about 17% of staff and close offices.
