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October 24, 2014
Articles

Okapi Partners CEO Explains Why Activists are Ruling the Marketplace By Karlee Weinmann in New York When Bruce Goldfarb founded proxy solicitation firm Okapi Partners LLC in 2009, the marketplace was a much different beast. Back then, widespread economic woes iced over deal-making and sapped returns from companies and their investors, leaving them little choice […]

October 23, 2014
Articles

How to Win a Proxy Fight By Laurie Havelock Earlier this month, activist investment firm Starboard Value completed its campaign to gain control of the 12-person board of Darden Restaurants, the summation of a nine-month proxy battle aimed at the company’s management. Propelled by investor dissatisfaction with the restaurant group, which famously operates the Olive […]

October 20, 2014
Articles

Will We See More Wholesale Board Changes Like Darden? By Michael Ide, ValueWalk Last week, shareholder activism showed just how far it’s come when Starboard Value LP won a decisive proxy fight against Darden Restaurants, Inc. (NYSE:DRI)’a now-former management, replacing the entire board with its own nominees. Darden’s decision to sell Red Lobster earlier this […]

October 20, 2014
Articles

Normally, activists will attempt to gain minority representation on a board by asking to replace one or more members with their own nominees. However, in this case, the relationship between shareholders and management became so strained that the activists opted to oust the entire board. The goal of the action shifted from gaining influence over […]

October 10, 2014
Articles

It was an annual shareholder meeting that was essentially over before it began, as the activist hedge fund Starboard Value replaced all 12 board members of Darden Restaurants, owner of Olive Garden, Bahama Breeze, and other casual dining chains. At the JW Marriott here, just a few miles from Darden’s headquarters, Starboard representatives, proxy solicitors […]

October 10, 2014
Articles

“Today’s decision by Darden shareholders is extraordinary. The replacement of the entire board is a critical win for Darden shareholders, and portends an exciting future for the company,” said Bruce Goldfarb, president and CEO of Okapi Partners, a proxy solicitor working with Starboard, in a statement. Entire Darden Board Ousted as Shareholders Back Activist [Agenda]  

October 10, 2014
Articles

“Today’s decision by shareholders is extraordinary,” said Bruce Goldfarb, chief executive of Okapi Partners. “The replacement of the entire board is a critical win for Darden shareholders, and portends an exciting future for the company.” Starboard scores rare shutout win in ousting Darden board [MarketWatch]

August 11, 2014
Articles

Proxy advisory firms must proactively reveal potential conflicts of interest, commission guidance says Asset managers that use proxy advisory firms should review their voting policies at least once a year, the SEC says in a guidance bulletin, also telling the advisory firms they must reveal potential conflicts of interest to their clients.

 The bulletin further […]