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Freedman Quoted in Law360 Story Regarding Takeaways from the Current 2015 Proxy Season

May 7, 2015

Olshan Activist Practice Partner Andrew Freedman was quoted extensively as an expert in a Law360 article about takeaways from the 2015 activist season. Freedman was quoted as saying that “One trend of this 2015 proxy season is using alternative proxy contests” such as the ‘withhold’ campaign led by client H Partners at Tempur Sealy.  Freedman also said different types of activists have greatly increased in number this year compared to years past, noting that "those who were usually more reluctant, or have typically been more passive, feel more freedom to voice their concern actively when the situation calls for it" and that "it's not only the brand-name investors anymore."  On the rise of settlements between activist investors and companies, Freedman observed that "some of the bigger names are involved in settlements, but it seems that companies have less of an appetite to battle it out with the big name top-tier activist.”  “[Activists] are as active as ever, but what we're seeing is less of a willingness on the part of boards of directors to go toe-to-toe with these heavy hitters,” he said.  When asked why, he said because "nobody wants to be the next Darden.”

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