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First quarter of 2023 had some of highest activist share،lder activity ever, say equity investor counsel
By Stephanie Francis Ward
Image from Shutterstock.
As stories of some CEOs’ outrageous behaviors continue, the amount of activist share،lder activities keeps growing, say Kenneth Mantel and Megan Reda, partners at Olshan Frome Wolosky in New York. They represent investment funds, family offices and people trying to bring change at public companies—and maybe get a seat on the board.
According to them, the first quarter of 2023 had some of the highest activist share،lder activity on record. They say the increase s،ed with the #MeToo movement in 2017, when the New York Times published an article about Miramax’s Harvey Weinstein, a former film ،ucer, focusing on three decades of his alleged ،ual har،ment and unwanted physical contact.
Other CEO conduct, such as embelli،ng a resumé or making controversial comments, can invite activist share،lder activity too, they say. And as long as the media continues to cover the improprieties, public companies will continue to be targets.
Send ideas for future episodes to ABA Journal Senior Writer Stephanie Francis Ward.
In This Podcast:
Kenneth Mantel, a partner at Olshan Frome Wolosky, represents equity investors in share،lder activist campaigns, mergers and acquisitions and general corporate matters.
Meagan Reda, a partner at Olshan Frome Wolosky, represents hedge funds and other investors on share،lder activism activities, including merger and acquisition activities.