infoUSA board of directors re-elected despite investor opposition

By Lisa Kerner

Charlotte, N.C., June 7 - infoUSA shareholders voted in favor of the directors supported by company management at the annual meeting on Thursday.

Directors Bill Fairfield, Anshoo Gupta and Elliot Kaplan were re-elected to three-year terms, with 62%, 62% and 58% of the vote, respectively, a company news release stated.

Stockholders also approved an equity incentive plan and ratified the selection of KPMG LLP as infoUSA's independent auditors.

"We are pleased at the strong showing of support by our shareholders that the vote reflects," chief executive officer Vinod Gupta said in the release.

"We find it particularly gratifying that the shareholders rejected Dolphin Limited Partnership's campaign against the company. Plainly, the shareholders saw through Dolphin's allegations."

On May 30, Dolphin, with a 3.6% stake in the company, accused infoUSA's board of refusing to address serious questions asked by the investment community, in particular questioning how Vinod Gupta's interests are aligned with those of public shareholders. The investor said in a letter that in 2005, Gupta made an $11.75-per-share bid for infoUSA shares just three months after publicly stating they were worth over $18.00 per share and only five days after guidance was lowered, driving the share price down 20%.

Dolphin also called on fellow shareholders to vote against the 2007 omnibus incentive plan, to withhold votes from all of management's nominees and to support the shareholder bill of rights.

infoUSA is a provider of business and consumer information products, database marketing services, data processing services and sales and marketing products.

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