Olshan Victorious in New Jersey Federal Court
Olshan’s Litigation Group won a significant victory for firm client Legion Partners Asset Management, LLC in the United States District Court for the District of New Jersey when Judge Robert B. Kugler denied a preliminary injunction motion filed against Legion by RCM Technologies, Inc. Olshan’s Activist Partners Steve Wolosky and Elizabeth Gonzalez-Sussman counseled Legion in its solicitation of proxies for its two director nominees to the RCM Board. RCM sued Legion in New Jersey federal court, and sought a preliminary injunction to prevent Legion from soliciting proxies, claiming that Legion’s solicitation materials violated federal securities laws. Litigation Partners Tom Fleming and Jeff Udell defended Legion in the lawsuit, and at the preliminary injunction hearing, after which Judge Kugler found that RCM was unlikely to succeed on the merits of its claims and that its motion for a preliminary injunction would be denied. The Wall Street Journal reported on Legion’s proxy contest against RCM. Following Judge Kugler’s denial of RCM’s requested injunction, Legion was victorious in the proxy contest, as the RCM stockholders voted to seat Legion’s two director nominees.