Figma (FIG) shareholder Findell Capital Management on Thursday urged management to take steps to maximize shareholder value, including a review of its relationship with Amazon-backed (AMZN) Anthropic given the launch of Claude Design.

In a letter sent to Figma's chief executive officer and board, Findell said Claude Design, which was released in April, directly competes with Figma.

The shareholder raised concern that a few days before Claude Design was released, Anthropic Chief Product Officer Mike Krieger resigned from the Figma board. There remains two board members "who are material investors in Anthropic," according to Findell.

"We believe the Board should conduct an independent investigation to evaluate whether Anthropic benefitted from any improper use of Figma's confidential information," Findell said. "It may be appropriate to consider refreshing the membership of the Board in light of these potential conflicts."

Findell also called on the management to simplify its offering and focus on its product suite on Design, Dev Mode, FigJam, and Make, as well as rationalize costs to bring these in line with peers.

Figma and Anthropic didn't immediately respond to MT Newswires' request for comment.

Shares of Figma were up more than 6% in Thursday trading.

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