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BRIEF-black-and-white Capital calls for review at Etsy, including a sale

May 2 black-and-white Capital

* black-and-white capital calls for change at Etsy

* Identifies a number of critical operational and governance flaws that require immediate improvement in Etsy

* Says necessity of exploring strategic alternatives in order to maximize value for all shareholders

* Sees company's intrinsic value approaching $30 per share with operational improvements

* Says for past several months, black-and-white has attempted to engage in a private dialogue with Etsy's board

* Believes it is board's fiduciary duty to immediately consider all strategic alternatives available, including possible sale of entire co Source text for Eikon: Further company coverage:

我们的标准: 汤森路透“信任原则

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