Acacia Research Corporation (“we,” "Acacia" or "the Company") (Nasdaq: ACTG) today announced that it has enhanced and expanded its senior management team with two key appointments. Richard Rosenstein was named Chief Financial Officer and Meredith Simmons was appointed as General Counsel, effective immediately.
Clifford Press, Chief Executive Officer, stated, “We are expanding our senior leadership team to accelerate our stated M&A strategy. Richard brings significant CFO and executive leadership experience and has a previous background as a research analyst and as an investor, which we think will make an excellent addition to our executive team. Meredith has a proven track record of excellence both as an attorney, and in demonstrating her business acumen in her consulting work for hedge funds and private equity firms. We think Meredith’s skills are essential to help us build our platform. Both Richard and Meredith also bring a significant amount of transactional experience to our team. We welcome Richard and Meredith and we are confident their experience and capabilities will serve our shareholders well.”
Mr. Rosenstein has served in several CFO roles, most recently as CFO of CLEAR since 2017. This follows over 15 years of experience as a research analyst covering the communications, media, and entertainment industries at Goldman Sachs and Baron Capital. Mr. Rosenstein has a BA from the University of Pennsylvania and an MBA from Columbia Business School.
Ms. Simmons most recently served as General Counsel and Chief Compliance Officer of Mason Capital Management from 2011 through 2018, as well as a consultant to private equity and hedge funds from 2018-2020. Prior to this, Ms. Simmons held legal roles at Cantor Fitzgerald, and several major U.S. law firms. Ms. Simmons has a BA from the University of California, Los Angeles and JD from Georgetown University Law Center. She also holds an LLM from New York University Law School.
About Acacia Research Corporation
Founded in 1993, Acacia Research Corporation (ACTG) invests in absolute return assets of intellectual property, life sciences, and other developed technologies. In 2020, Acacia embarked on a strategic partnership with Starboard Value, L.P. to build a platform to pursue opportunities that leverage Acacia’s governance experience and significant capital resources.
Information about Acacia Research Corporation and its subsidiaries is available at www.acaciaresearch.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including the ability to successfully implement our strategic plan, the ability to successfully build out a new leadership team within a certain timeframe, the ability to streamline financial reporting, the ability to successfully develop licensing programs and attract new business, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property in general, general economic conditions and the success of our investments. Our Annual Report on Form 10-K, recent and forthcoming Quarterly Reports on Form 10-Q, recent Current Reports on Form 8-K, and any amendments to the foregoing, and other SEC filings discuss some of the important risk factors that may affect our business, results of operations and financial condition. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Rob Fink, 646-809-4048