Starboard Value's Activist Campaign Against Regis Corporation
We represented Starboard Value in a hotly contested and highly publicized proxy contest against Regis Corporation, which operates more than 12,700 hair salon chains worldwide, including Supercuts. Starboard Value, one of Regis' largest shareholders, sought to elect three representatives to the Regis board. We advised Starboard Value in its proxy campaign from start to finish, which included strategic planning, proxy filings and SEC response letters, drafting of “fight letters”, and meetings with independent proxy advisory firms. Starboard Value scored a major proxy contest victory as shareholders overwhelmingly elected all three of Starboard Value's director nominees at the annual meeting held on October 27, 2011. Many publications featured this proxy contest due to the lopsided nature of the voting results in favor of Starboard Value's director candidates.