10:07 AM EDT, 10/10/2024 (MT Newswires) -- Pfizer ( PFE ) shareholder Starboard Value said in a letter Thursday it was urging the company's board to immediately form a special committee to probe an event that resulted in former Chief Executive Ian Read and former Chief Financial Officer Frank D'Amelio facing threats from "people within Pfizer ( PFE ) and/or their representatives."

The people "threatened" the former CEO and former CFO to "commence costly litigation against them, claw back prior compensation, and cancel unvested performance stock units, unless they publicly release a statement supporting the current Chief Executive Officer, Dr. Albert Bourla," the letter added.

Starboard said it asked Pfizer's ( PFE ) board to carry out an investigation into the matter and find out "who approved and executed such conduct."

The hedge fund said it had meetings with Read and D'Amelio and they showed "concerns" about the company's business trajectory.

Starboard said it is scheduled to meet Bourla and other executives on Wednesday.

Pfizer ( PFE ) did not immediately respond to MT Newswires' request for comment.

Shares of Pfizer ( PFE ) were down 2% in recent Thursday trading.

Price: 29.59, Change: -0.61, Percent Change: -2.00