Freedman Quoted in Wall Street Journal Regarding Rise of the Reluctant Activist

Andrew Freedman, Co-Head of the Activist Practice, was quoted recently in a Wall Street Journal article discussing shareholders who are newly emerging as the reluctant activist. These new activists, the “reluctavists” or  “suggestivists,” are veering off of the role they have historically fulfilled as passive investors and are adopting, sometimes reluctantly, the tactics of activists. One reason for these newly emerging “reluctavists” is the witnessed success of vocal shareholders enacting corporate change, as well as changes in securities laws and investor rights which encourage shareholders to speak up. Freedman represents both first- timers and experienced activist investors. Freedman explains that those who are now taking on a more active role “are long- term investors who have reached a point where they see opportunities for value that the company isn’t pursuing and after years of underperformance they are putting themselves out there.” He concludes by affirming that “[First- time activist investors] aren’t just value seekers. They are the long- suffering shareholder.”