Nabi Biopharmaceuticals (NDAQ:NABI) revealed today in a 13D/A filing with the SEC that activist hedge fund Third Point intends to "conduct shortly a consent solicitation in order to remove Mr. McLain and possibly one or more other directors from the Board of Directors". The fund also said it would "solicit consents in favor of a proposal requesting that one or more individuals named by the Reporting Persons be added to the Board to fill any vacancies created by the removal of directors". This news comes after the company expressed dissatisfaction with Chairman McLain after having difficulty obtaining financial records. If Third Point is successful in obtaining its Board seats it will likely seek "strategic alternatives" for the company, which may include an outright sale of the company.

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