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Iridex Corporation's Board of Directors reported that its 2026 Annual Meeting resulted in the election of five…
IRIXIridex Corp
Iridex Corporation's Board of Directors reported that its 2026 Annual Meeting resulted in the election of five directors, including Nick Chen, Beverly A. Huss, Patrick Mercer, William Moore, and Scott Shuda. However, the Board identified a stealth proxy campaign involving a director and a group of 17 affiliated stockholders, including Novel Inspiration International Co., Ltd., which allegedly violated fiduciary duties and federal securities laws. The investigation suggests the group coordinated to cast "withhold" votes against independent directors Huss and Shuda to influence board composition without proper SEC disclosures. Novel subsequently amended its Schedule 13D to disclose it and its affiliates own approximately 39% of common shares. The company is continuing its investigation into potential misconduct and reporting violations. Iridex is a medical technology company that develops and manufactures ophthalmic laser products.