MKT Capital Reaches Agreement with Aurinia Pharmaceuticals for Board Representation following Successful Withhold Campaign

Olshan client MKT Capital reached an agreement with Aurinia Pharmaceuticals pursuant to which Dr. Robert T. Foster was appointed to the company’s Board of Directors. MKT Capital’s agreement with Aurinia followed a successful withhold campaign whereby two directors of Aurinia – the Chairman of the Board and the Chairman of the Compensation Committee – resigned from the Board after failing to receive the requisite majority vote at the company’s 2023 Annual Meeting. Vice Chair of Olshan’s Shareholder Activism Practice Group Ryan Nebel and associate Ian Engoron represented MKT Capital in its investment in Aurinia Pharmaceuticals.