News & Resources

Olshan Leads Client Bristol Investment Partners in Canada’s First Successful “Withhold Vote” Campaign

June 28, 2012

The Activist Practice recently guided client Bristol Investment Partners through a complex and unprecedented "withhold vote" campaign aimed at removing three incumbent directors from the Board of Canadian gold producer Jaguar Mining. Following a failed strategic review process, Bristol sought dismissal of the three Jaguar directors it believed were responsible for the unsuccessful process. At Jaguar’s Annual Meeting an overwhelming majority of shareholders joined Bristol in withholding votes against the reelection of these three directors. Since then, each of the three directors including the Board Chairman resigned from the Jaguar board. Olshan’s team was led by Steve Wolosky and Andrew M. Freedman, who together authored an article on withhold campaigns that appeared in the December 2011 edition of The Activist Report.

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