Olshan Client Broadfin Capital Successful in Electing All Three Nominees to Cardica Board of Directors

The Wall Street Journal and Activist Insight (subscription required) reported on the election victory of Olshan client, Broadfin Capital, in its activist campaign at Cardica, Inc. Broadfin had secured the recommendations of both leading proxy advisory firms, ISS and Glass Lewis, for a vote on Broadfin’s gold proxy card in favor of the election of its nominees. Cardica conceded the election in late November, as reported by The Wall Street Journal, effectively ensuring the election of Broadfin’s director candidates. All three of Broadfin’s nominees were elected with overwhelming shareholder support at the recently held 2014 Annual Meeting. Steve Wolosky and Ryan Nebel represented Broadfin in its activist campaign at Cardica.