Liberty said this week that its founder will sell his shares of Class A and Class B Common Stock to  Vintage Tributum, an affiliate of Vintage Capital Management, which is unaffiliated with Liberty and its shareholders.

The sale, expected to “close promptly”, will end Hewitt’s control of the company. Hewitt was fired in September after an investigation revealed complaints by employees who say they heard him having sex in an office. It was also alleged he favored female employees with whom he had romantic connections.

 The Vintage deal ends the existence of Class B shares, via which Hewitt had retained control of Liberty. The B shares will all convert into Class A. Vintage purchased an undisclosed number of shares from other stockholders. 

Liberty has also received a delinquency notice from Nasdaq for its failure to file its form 10-K for the year ended April 30. It has previously received notices for its failure to file form 10-Q reports