India, May 9 -- DOMA Perpetual Capital Management LLC, a major shareholder of InMode Ltd. (INMD), Friday has issued a letter to InMode's Board of Directors urging the immediate resumption of its share repurchase program and the removal of CEO Moshe Mizrahy.
DOMA criticized Mizrahy's public remarks regarding past buybacks, calling them financially misguided and damaging to shareholder value. They asserted that the CEO's poor leadership has contributed to the company's underperformance and depressed stock valuation.
The letter highlighted DOMA's longstanding concerns with InMode's capital allocation strategy and cited repeated guidance cuts, failed M&A attempts, and the termination of key personnel as evidence of mismanagement. DOMA also ch...