Dissident Shareholders Obtain Board Seat
We represented a group of dissident shareholders in an election contest involving KT&G Corporation, Korea's largest tobacco company. We provided strategic advice in the election contest while working with Korean counsel on preparing the dissident group's proxy statement and other filings with the Korean regulators. The dissident group was successful in obtaining one board seat at the annual meeting. Following the annual meeting, KT&G announced its biggest share buy-back in its 107-year history and a 40% increase in its cash dividend.