Pacira Stock Waits for June 9 Board Fight
Pacira BioSciences shares held steady Wednesday after ISS sided with management, according to the company. ISS backed the board slate from Pacira ahead of the June 9 vote for three seats. The proxy adviser told shareholders to support Pacira’s picks—Christopher Christie, Samit Hirawat and Thomas Wiggans—and reject the board candidates from DOMA Perpetual Capital Management, Pacira said. The vote is in focus now because this isn’t a typical annual meeting. Pacira is in a proxy contest, with shareholders picking between rival board slates. The outcome could decide if Pacira sticks with its “5x30” growth plan or sees calls rise for a strategic review, maybe even a sale.