Sotheby's Urges Shareholders To Vote FOR Director Nominees On GREEN Proxy Card

(RTTNews) - Auction house Sotheby's (BID) reported mailing a letter to its shareholders pertaining to the upcoming 2014 Annual Meeting of Shareholders, which would be held on May 6, 2014.

Following are the highlights of the letter: Under the stewardship of its Board and management team, Sotheby's continues to deliver strong financial performance and superior value creation; Sotheby's strong first-quarter 2014 preliminary results reflect continued successful execution of its strategic plan. Also, Sotheby's Board is independent, active, engaged and focused on further enhancing shareholder value.

According to the letter, Loeb has offered no strategy to create value and has made no case that change is warranted at Sotheby's, as further showed by the company's strong preliminary first quarter 2014 financial results; Loeb's pattern of disruptive behavior has adversely impacted Sotheby's business and relationships; and Sotheby's director nominees bring the experience and skills necessary to continue driving shareholder value and deserve your vote, the company added.

Further, the company urges its shareholders to Vote FOR ALL 12 of the Sotheby's Director Nominees on the GREEN Proxy Card.