YZi Labs has publicly criticized CEA Industries (BNC) for implementing a poison pill strategy and amending its bylaws to limit shareholders' written consent rights. YZi Labs argues that these actions are intended to consolidate board power rather than protect shareholder interests. Additionally, YZi Labs refuted BNC's claim of never considering alternative tokens, highlighting that BNC CEO David Namdar had acknowledged exploring other crypto assets like Solana during a November 2025 industry conference.
YZi Labs has urged the board to avoid further manipulative actions and ensure a fair and transparent director nomination and election process for the 2025 shareholders' meeting. The firm has also filed a preliminary consent statement with the U.S. Securities and Exchange Commission, seeking to expand the BNC board and elect its nominated directors.
YZi Labs Criticizes CEA Industries' Poison Pill Strategy
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