Core Viewpoint - Activist investor Engine Capital is urging Acadia Healthcare to restructure its board and reassess its growth strategy due to ongoing federal investigations and significant share price declines [1][2]. Group 1: Investor Pressure - Engine Capital holds approximately a 3% stake in Acadia, making it one of the company's ten largest shareholders [1]. - The hedge fund has called for a halt to costly new projects and a review of the asset portfolio [2][3]. - The letter highlights Acadia's consistent negative returns and underperformance compared to healthcare peers, resulting in shares being undervalued [2][5]. Group 2: Operational Concerns - Underperformance is attributed to poor execution, missteps in reorganization under CEO Christopher Hunter, rising costs, and inadequate board oversight [3][4]. - Engine Capital criticizes Acadia's "growth at any cost" strategy, which has led to an oversized corporate structure and limited operational improvements [4]. - The hedge fund emphasizes the need for a board refresh with directors who have experience in behavioral health and capital allocation [4][5]. Group 3: Financial Performance - Acadia's market value has significantly decreased, with shares down 71% over the past year, placing its equity valuation just above $2 billion [5]. - The stock price has recently seen a slight increase of 9.87%, reaching $24.19 [5].

Core Viewpoint - Tucows Inc. has announced the nomination of five new individuals for its Board of Directors, reflecting a strategic refresh aimed at supporting the company's growth and innovation [1][2][3]. Group 1: New Board Members - The newly-nominated directors include Dr. Sandra Matz, Laurenz Malte Nienaber, Allen Taylor, Jeffrey Tory, and Stephan Uhrenbacher, each bringing diverse expertise in finance, technology, marketing, and entrepreneurship [2][3]. - Dr. Sandra Matz is a leading voice in data-driven behavioral science, specializing in consumer behavior and business outcomes [3]. - Laurenz Malte Nienaber has extensive experience in investment strategy and governance, contributing analytical rigor to board leadership [4]. - Allen Taylor has a strong background in private equity operations and financial turnarounds, enhancing the board's financial insights [5]. - Jeffrey Tory has nearly four decades of experience in investing in North American growth stocks, aligning his expertise with Tucows' long-term vision [6]. - Stephan Uhrenbacher is a serial entrepreneur with a focus on tech and sustainability, bringing leadership experience from various startups [7]. Group 2: Board Transition - The nominations indicate Tucows' commitment to refreshing its Board with diverse perspectives to support innovation across its businesses, including Ting Internet, Tucows Domains, and Wavelo [8]. - The company expresses gratitude to outgoing directors Robin Chase, Erez Gissin, Allen Karp, Jeffrey Schwartz, and Gigi Sohn for their significant contributions to Tucows' leadership and growth [9][10].