Law360 Quotes Freedman On 2014 Activist Strategies
A Law360 article (subscription required) exploring the activist strategies characterizing the 2014 proxy season cited Olshan Partner Andrew Freedman in connection with the tactic of requesting of books and records. Such information can help support activist arguments, but the rejection of these requests can corner companies publicly, such as activist investor Carl Icahn recently did with eBay, Inc. Freedman explains that “the mere request was a power play. While nine times out of 10, a company will deny the activist's books and records request, it still puts those issues and the alleged wrongdoing of a company out there in the spotlight. In addition to being a potentially effective legal tool, it's a potentially effective [public relations] tool for the activists as well." The article also notes other activist strategies emerging this season, such as an increased focus on mergers and acquisitions, the push for bigger boardroom changes, the use of social media and the continued focus on compensation issues.