Wolosky Discusses What to Look for When Your Firm is Targeted by Activists
Olshan’s Activist & Equity Investment Practice Chair Steve Wolosky was interviewed by Corporate Secretary at the 2017 NIRI (National Investor Relations Institute) Annual Conference on trends in shareholder activism and how companies can defend themselves against activist investors. "Investors have different styles and activists have different styles," Wolosky said in the video interview. "There are some for whom a proxy contest is a last resort and there are others who believe using a proxy contest as a means to get a mandate from shareholders is a very important technique. Knowing who you’re dealing with is vital." He recommends companies start by looking at the activists’ track record by focusing on other 13D filings they have made, certain questions companies should research and, lastly, advises that companies should be aware of how activists are using social media, which has made it much easier for activists to communicate with other shareholders during a contest.