A shareholder in MedQuist Inc., Mount Laurel, has asked fellow stockholders to vote for six "independent" board candidates at an annual meeting Dec. 31.
In a Securities and Exchange Commission filing, Costa Brava Partnership III L.P., Boston, which owns 5.2 percent of MedQuist common stock, criticized majority stockholder Royal Philips Electronics N.V. for the medical-transcription company's "present state of affairs."
Costa Brava said MedQuist's board lacks enough independent board members - those who are not also employees of the company - after three independent directors abruptly resigned in a disagreement over the process for studying a possible sale of the company.
MedQuist announced Nov. 2 it was studying a sale after Royal Philips said it wanted to sell its 70 percent stake. MedQuist has been the focus of several probes over allegations of improperly billing and overcharging customers.