WSJ Covers Potomac’s Deal for Board Seats at Sigma Designs
The Wall Street Journal (subscription required) and other media reported on the successful negotiation of a settlement by Olshan client Potomac Capital Partners with set-top box chipmaker Sigma Designs (SIGM). Potomac had launched a proxy contest seeking to elect a slate of three director candidates to SIGM’s Board at the 2012 Annual Meeting. Under the agreement, SIGM agreed to create a five-member board with two new members recommended by Potomac, as well as a mutually-agreeable fifth director. Potomac is one of SIGM’s largest shareholders with a 7.9% stake. Steve Wolosky, Elizabeth Gonzalez, and Amanda Lamson represented Potomac in connection with its proxy solicitation activities. Andrew Freedman assisted with leading the settlement negotiations.