PHILADELPHIA--(BUSINESS WIRE)--Checkpoint Systems, Inc. (NYSE: CKP) today issued the following statement in response to a letter it received from MMI Investments, L.P. (“MMI”):
“We are aware of MMI’s perspective and respect their input and that of all shareholders. While we don't agree with certain facts in their letter of August 10, more importantly, we regret there appears to be a misunderstanding in terms of our willingness to engage with them. We have previously invited MMI to meet with our board and its advisors to discuss their ideas and learn more about our strategic plan, subject to the execution of a confidentiality agreement. We have also said that, if they are not prepared to sign such an agreement, we would meet with them to discuss publicly available information, which we still believe could be productive. We are committed to maintaining an open dialogue with all shareholders and to resolving any misunderstanding with MMI."
Checkpoint Systems, Inc.
Checkpoint Systems is a global leader in shrink management, merchandise visibility and apparel labeling solutions. Checkpoint enables retailers and their suppliers to reduce shrink, improve shelf availability and leverage real-time data to achieve operational excellence. Checkpoint solutions are built upon 40 years of RF technology expertise, diverse shrink management offerings, a broad portfolio of apparel labeling solutions, market-leading RFID applications, innovative high-theft solutions and its Web-based Check-Net® data management platform. As a result, Checkpoint customers enjoy increased sales and profits by improving supply-chain efficiencies, by facilitating on-demand label printing and by providing a secure open-merchandising environment enhancing the consumer's shopping experience. For more information, visit http://www.checkpointsystems.com.