Call-Net Enterprises Inc. is a publicly owned telecommunications company offering phone, data and on-line services. After years of successful growth, Call-Net participated in an unfriendly takeover costing $1.8 billion and their capital expenditures were higher than ever leading to a significant net loss for the year, as well, their stock price were falling. Crescendo Investment along with some of Call-Nets major shareholders called a special shareholders meeting to request the removal of six of the nine board of directors. The company's board of directors is faced with planning their strategy for the upcoming shareholders meeting and with making some long-term plans for the company.
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