Tag archives: proxy battles

A UK dispute sheds light on the duties of a dissident director

Photo of Nader Hasan (Toronto)By Nader Hasan (Toronto) on Posted in Proxy Battles, Shareholder Activism
A recent decision of the UK’s High Court — Stobart v Tinkler [2019] EWHC 258 (Comm) — has been released following a dispute between directors of a large infrastructure company (the “Company”). The decision, and the circumstances preceding it, serve as a cautionary tale about the duties of a dissident director and of board members … Continue reading

Defamation lawsuits as a defence to shareholder activism

By Michael Viner (Toronto) on Posted in Litigation, Proxy Battles, Shareholder Activism
Activist investors engaged in proxy fights typically mount aggressive public relations campaigns in order to undermine shareholder confidence in a target company’s performance and leadership, whether through social media, online forums or by using the more traditional PR channels. In response, target companies have turned to a number of defensive measures, many of which have … Continue reading

The drivers and consequences of settlement agreements in proxy fights

By Michael Viner (Toronto) on Posted in Proxy Battles, Shareholder Activism
Activist interventions are being increasingly resolved by way of settlement agreements, with 3% of activist interventions in 2000 having resulted in a settlement agreement versus 16% in 2011.[1] In light of this emerging trend, the Columbia Business School recently published a paper, Dancing with Activists, in which the authors sought to provide the first systematic … Continue reading
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