Steel Partners in Point Blank Solutions Proxy Victory
August 20, 2008
The Miami Herald ran an article describing the proxy victory by Olshan's client, Steel Partners, at the annual meeting of stockholders of Point Blank Solutions, Inc., a producer of body armor for law enforcement and the US military. Steel's five director nominees were overwhelmingly elected to the Point Blank Board. Steel sought Board representation after Point Blank rejected Steel's overtures to acquire it. Olshan was able to cause the Delaware Chancery Court to overturn Point Blank's attempt to postpone holding the annual meeting. Steve Wolosky and Andrew M. Freedman handled the corporate aspects and Thomas J. Fleming litigated the Point Blank matter.