Freedman Quoted in Corporate Secretary Magazine on the Rise of Settlements with Activist Investors

The Corporate Secretary extensively quoted partner Andrew Freedman in its article about the increase in settlements between companies and activist investors. Freedman points out that “Proxy settlements are certainly becoming the rule in terms of activist engagement with public companies….Back in the day, there was a much more defensive stance and an unwillingness to engage in meaningful dialogue.” In the past five years, though, Freedman has seen a complete reversal in the perception of activists investors as “barbarians at the gate” or “corporate raiders.” Instead, these investors and their campaigns can now be characterized as “a meeting of minds through constructive engagement and dialogue,” which have led to amicable settlements at several companies. The article also provides a sampling of key settlements in the field, noting Olshan client Engaged Capital’s campaign at Abercrombie & Fitch.