Olshan Activist Client Lone Star Value Seeks to Improve Corporate Governance at Callon Petroleum and Nominates Two Candidates to its Board

The Wall Street Journal and other national media reported on Lone Star Value’s announcement that it has commenced a campaign to seek the election of two highly-qualified director candidates for election to the board of Callon Petroleum at its 2014 Annual Meeting. Lone Star Value’s activist campaign aims to significantly improve Callon Petroleum’s corporate governance strategy and practices, including by declassifying its board structure, eliminating all supermajority vote requirements from its organizational documents and improving the composition of Callon Petroleum’s Board. Steve Wolosky and Ryan Nebel represent Lone Star Value in connection with its activist investment in Callon Petroleum.