Advertisement

A dissident group increased its stake in Citadel.

The group, led by Los Angeles investor Alfred Roven, disclosed that it had boosted its stock ownership in the Glendale-based savings and loan holding company to 9.8% from 9.1%. In proxy material mailed Monday, Roven also solicited votes to place himself and two associates on Citadel’s board, claiming that the current board has ignored shareholder interests. Citadel and its chief unit, Fidelity Federal Savings & Loan, will be acquired by Great Western Federal Savings & Loan under terms of an agreement reached in May.


Advertisement