Green Dot Defends CEO As Proxy Fight Heats Up

Pasadena-based Green Dot has issued a highly unusual defense of CEO Steve Streit, as a proxy fight over the company's management heats up. In a statement to the company's stockholders, the company said it was a "pivotal moment for Green Dot" and urged support for its slate of directors. The company also said that it is "confident that it has the right leadership in place" and "specifically the right CEO, Steve Streit". Green Dot has been facing an aggressive proxy fight from activist investor Harvest Capital.