Premier Exhibitions' largest shareholder files complaint, seeks shareholder list

By Lisa Kerner

Charlotte, N.C., Nov. 26 - Premier Exhibitions, Inc.'s largest shareholder, Sellers Capital LLC, filed a complaint seeking to enforce its statutory right to inspect the company's shareholder list for purposes of communicating with other shareholders, it was announced on Wednesday.

Sellers, a 16.3% shareholder, said Premier Exhibitions denied its request for the list based on an alleged technical deficiency in Sellers Capital's request.

Once the complaint was filed, the company indicated it was willing to provide Sellers Capital with the list, a Sellers Capital news release said.

However, Sellers Capital believes it needs to continue to pursue the litigation to protect its rights until the requested information is received.

On Nov. 21, Sellers Capital said it intended to solicit consents from shareholders to elect four independent directors to fill vacancies on Premier Exhibitions' board of directors.

Sellers Capital representatives were appointed to the company's board in July, and the company agreed to have the appointees nominated for election at its 2008 annual meeting, a prior news release said.

It was previously reported that Sellers Capital called for the resignation of Premier Exhibitions chairman and chief executive officer Arnie Geller.

Premier Exhibitions, located in Atlanta, develops tour exhibits and operates as the salvor-in-possession of the Titanic shipwreck.

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