On January 21, 2020, Maple Rock Capital Partners Inc. released an open letter to Optiva, Inc's board of directors in response to Optiva's press release and associated analyst presentation of January 20, 2020. In the letter, Maple Rock expressed concerned that Company will be unable to reach its full potential with an ESW Capital-controlled board of directors and an ESW-affiliated chief executive officer, which seem intent on running the company as if it were a private entity, without appropriate checks and balances. Maple Rock urged the company to replace the deemed independent non-preferred directors with ties to ESW with directors that are truly independent, sufficiently objective and free from conflicts.