Category Archives: Shareholder Rights

Tech Shareholder Activism Increasing

As M&A picks up generally, and the tech sector in particular, shareholder activism is on the rise as well. Activism Monthly’s (which is about business rabble-rousing, not social rabble-rousing) latest issue includes an article discussing the technology industry.  According to … Continue reading

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Emulex Workforce Reduction to Ax 10% In Restructuring Plan

There’s a lot of end-of-year activity at Emulex as it announces plans to ax 10% of its employees in a workforce reduction and tries to find its way back to financial and shareholder relations health. Earlier this week, Emulex announced … Continue reading

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Initial Reaction To Twitter IPO

I was surprised that they did not go for the dual class share structure that is so popular these days with tech companies.  Google, Facebook, LinkedIn and others have adopted it to maintain control while giving up ownership.

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Clinton Group Looks To Get Fat on NutriSystem

Usually activist investor holds over 5% of common stock. Sends love letter to management. You may recall our discussions of Clinton Group from such activist campaigns as Stillwater Mining, Quality Systems and its SPAC, ROI Acquisition Corp. II. It also … Continue reading

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Starboard Grows Impatient With Emulex

One of the large hedge fund investors in Emulex Corp. dashes off angry (or disappointed) letter urging immediate action. We have been tracking the Emulex Corp. odyssey for a while now.  In July, we noted that that ELX jumped on … Continue reading

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Quality Systems Does Not Have Quality Leadership, Says Clinton Group As It Contests Director Election At Upcoming Meeting

Activist Investor Clinton Group files proxy statement for the election of its seven nominees to the Quality Systems Board of Directors. Quality Systems, Inc. is an IT company in the healthcare industry. According to activist investor Clinton Group, Quality Systems … Continue reading

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Corvex Management and Related Fund Management Declare Victory In Attempt To Oust The CommonWealth Directors.

We’ve covered the CommonWealth REIT saga with Corvex Management LP and Related Fund Management LLC, who are trying to oust the CommonWealth directors. The funds, who together own about 9.6% of CommonWealth, announced that they delivered consents from holders of … Continue reading

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CommonWealth REIT: Marcato Joins Fight With Corvex and Related Fund Over Consent Solicitation At CommonWealth.

Getting the band back together. Last we saw Marcato Capital Management, they had teamed up with Corvex Management to reign down some REIT reorg on Corrections Corporation of America (CXW). Last we saw Corvex Management, they had teamed up with … Continue reading

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Relational Investors Gets Results: Timken Hires Goldman Sachs To Review Whether Timken Should Break Off Business Units

Breaking up is hard to do, but Timken will take a look anyway. We have followed the saga of Relational Investors’ and CalSTRS’ attempt to get Timken Co. to separate its steel and ball bearing businesses. There are now reports … Continue reading

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Let’s Get it Started! sTec Files Proxy Statement For Its Upcoming Contested Election, Nominating Director In Litigation With SEC Over Insider Trading Allegations.

sTec believes a small thing like an SEC insider trading action against its founder/incumbent director/former CEO who resigned under a cloud of an SEC investigation and litigation shouldn’t cause shareholder’s to deviate from its path. sTec filed its proxy statement for … Continue reading

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