Glenn vs. The Volcano

Today saw a "volley across the bow" between Volcano Corporation (Nasdaq: VOLC), a major manufacturer of IVUS, FFR and iFR technologies, and Engaged Capital LLC, an investment firm which holds over two million shares, or 5.1%, of Volcano stock. Engaged founder Glenn W. Welling sent a letter to Volcano demanding that the company begin a search for a new CEO and find a buyer for the company (press release printed below). The letter was prompted by the fact that Volcano's stock price has dropped by more than half over the past year. Engaged has been in discussions with ...