Foundation Asset Management Drives Board Changes at Stewart Information Services

Bloomberg, Reuters and Houston Business Journal reported on the agreement reached between Olshan client, Foundation Asset Management, and Stewart Information Services Corporation. In connection with the removal and replacement of two non-independent directors on Stewart’s board of directors and Stewart’s retention of a search firm to search for two additional independent directors pursuant to an agreement between Stewart and another activist, Foundation agreed to withdraw its consent solicitation to request a special meeting of stockholders of Stewart. Steve Wolosky and Ryan P. Nebel represent Foundation Asset Management in connection with its investment in Stewart Information Services Corporation.