Angie's List Inc. has entered an agreement with TCS Capital that permits the hedge fund to purchase up to 12.75% of the its shares and adds three members to its board. John Biddinger, who has been on the board for a decade, is to retire; new members Eric Semler, founder and president of TCS Capital, and technology veterans George Bell and Tom Evans will expand the board to 11 directors from 9. Angie's List shares are inactive in premarket trading, and up 36.9% for the past year. The S&P 500 is down 8.2% for the past 12 months.
Copyright © 2016 MarketWatch, Inc.
Continue Reading Below