Deposition Testimony from ATG Nominees Undercuts Proxy Challenge
EMPD sits 30% above its 52-week low of $2.484.
Summary
Empery Digital's proxy defense cites deposition testimony from ATG's own nominees showing no strategic plan, rebuts three alleged false claims about payroll and fees, and reveals insurance coverage for legal costs ahead of the October 14 vote.
Key Events · Corporate Governance and Compliance · EMPD
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Nominee Depositions Show No Plan
Deposition excerpts from eight ATG nominees (Morris, Kirshenbaum, Novak, Davies, Elbaor, Powers, Ratner, Batta) show none had a strategic vision for Empery Digital or knew Gliksberg's plans, undermining ATG's case for board replacement.
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Three ATG Claims Rebutted
Empery rebuts claims that EAM forced salaries of EAM employees, that payroll rose by $1M (actual: reduced by $825K), and that fees are paid to Hunt Properties (actual: pro rata distributions only, no fees).
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Legal Cost Disclosures
Empery states attorney's fees above its $5M retention are covered by insurance, and ATG will pay some fees due to Delaware Court sanctions for Gliksberg's ethical misconduct.
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Gliksberg's Fee Recoupment Motive
Empery alleges Gliksberg invested $20M of LP money and spent close to $10M on legal fees, with intent to pursue those fees directly from the Board if his nominees are elected.
Analysis · EMPD · Crypto Assets
With the October 14 annual meeting approaching, Empery Digital's latest proxy defense letter introduces deposition testimony from ATG Capital's own nominees showing none had a strategic plan for the company, directly attacking the activist's credibility. The filing also rebuts three specific claims ATG allegedly made privately to shareholders about payroll inflation and fees to Hunt Properties, and reveals that insurance covers most of Empery's legal costs while ATG faces court-ordered sanctions. This is a material escalation in a contested election where the board's control is at stake, and the new evidence could sway undecided shareholders.
How filings like this one have moved
In the 30 days to Oct 19, 2026, 37.9% of the 895 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.87%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, EMPD was trading at $3.22 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $88.4M. The 52-week trading range was $2.48 to $8.17. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.