Germany-based medical molder Balda AG is accusing one of its shareholders, Elector GmbH, of trying to change the company's strategic orientation by organizing a general meeting in Berlin.
Elector had arranged the meeting, due to take place today in Berlin, to appoint three new members to Balda's supervisory board.
However, Bad Oeynhausen, Germany-based Balda says the decision to hold the meeting in Berlin is "anything but shareholder friendly" as shareholders from Eastern Westphalia will find the city difficult to get to.
Balda has appealed against the decision a decision from the Bad Oeynhausen Local Court allowing the meeting to go ahead.
The announcement comes only a year after Balda said another shareholder, U.S. hedge fund Octavian Advisors LP, failed to have Naschke dismissed.
Balda got a bigger foothold in the U.S. medical market in December, when it bought the custom injection molding and mold-making operations of family-owned C. Brewer in Anaheim, Irvine and Ontario, Calif., as well as HK Plastics Engineering Inc. and HK Screw Machine Products, both in Oceanside, Calif.