Hedge fund Indaba says disappointed with Benefitfocus' response to settlement terms

Hedge fund Indaba Capital Management told Benefitfocus Inc on Thursday it was disappointed in the benefit management software company's unwillingness to agree to its settlement terms that support further refreshment of its board.

The two sides have been trading barbs for weeks over the company's future, high turnover in its executive suite and who should be sitting on its board.

Benefitfocus did not immediately respond to Reuters' request for comment.