The Future of Shareholder Activism: Navigating the Increasingly Complex Landscape
For the past years, shareholder activism has been on an upward trend which continues to overwhelm corporate executives, investor relations and legal teams. The increased aggressiveness on new areas of activist objectives adds to the complexity of issues by which activists gain support. Moreover, the use of social media platforms and other digital marketing techniques have leveraged the pace of campaign initiations. To cope, companies and their counsel must enforce a robust and effective activist shareholder management program to prevent any value-destructive strategies and increase managerial efficiency.
In this LIVE Webcast, a seasoned panel of thought leaders and professionals brought together by The Knowledge Group will provide and present to the audience an in-depth analysis of the fundamentals as well as recent developments in shareholder activism. Speakers will also present strategic practices and effective defense in light of the recent developments.
Some of the major topics that will be covered in this course are:
- 2019 Shareholder Activism Landscape: An In-Depth Analysis
- Trends and Updates
- Activist Shareholder Management Strategies
- Red Flags
- What Lies Ahead
Jeffery Burton Floyd, Partner
Vinson & Elkins LLP
- The Activism Landscape
- Management Strategies
Michael D. Mabry, Partner
Stradley Ronon Stevens & Young, LLP
- Shareholder activism in closed-end funds and discount arbitrage.
- Shareholder proposals and contested Board elections – Lessons from Saba v. Blackrock and High River (Icahn) v. Occidental Petroleum.
- Limits on vetting dissident nominees.
- Shareholder requests for documents.
- Board duties in addressing shareholder proposals that have received an affirmative vote.
- Proxy voting by investment advisers and shareholder activism – Lessons from 2019 SEC guidance.
Who Should Attend:
- Advising Officers
- Executives and Directors
- In-house Counsel
- Risk Officers
- Top Level Management
- Other Related and Interested Professionals
Jeff Floyd is co-head of V&E’s Shareholder Activism practice. He is a member of the Firm’s Management Committee and a Senior Partner in the Mergers & Acquisitions and Private Equity practice. Jeff has two decades of experience representing clients in proxy contests, corporate control transactions and complex corporate governance matters.
Jeff’s first proxy fight was the defense of American General from Torchmark in 1990. In recent years, Jeff has been involved in the defense of a number of public companies in a broad spectrum of activism defense engagements, including Denbury Resources, Sandridge Energy, Delek US, Gulf Island Fabrication, Endeavour International Corporation, Conn’s and Oil States International against activists including Starboard Value, Jana Partners, Mangrove Partners, Carl Icahn, Piton Capitol and Pacific View Asset Management. He also has occasionally represented shareholders taking an activist role including Continental Grain in its activism campaign with D.E. Shaw against Bunge and Blackwells Capital in its proxy contest against Supervalu.
Jeff Floyd is co-head of V&E’s Shareholder Activism practice. He is a member of the Firm’s Management Committee and a …
Michael D. Mabry, a partner in Stradley Ronon’s investment management practice group, counsels investment companies, investment advisers, broker-dealers and other financial service providers on a variety of securities and corporate matters. Regularly working with mutual funds, listed closed-end funds, interval funds and exchange-traded funds, he has counseled boards of directors and investment advisers on regulatory, investigatory, enforcement and litigation matters, including SEC examinations, closed-end fund proxy fights, rescissions and private litigation. Michael helps clients develop, register and launch new and innovative investment products, and assists investment advisers and funds in complex transactions and instruments, including derivatives, credit arrangements, alternative investments, mergers, offshore investments and proxy solicitations. He also assists investment adviser clients with registration and disclosure requirements, self-custody, compliance and marketing.
He received his law degree from the University of Virginia, a master’s degree in economics from Bowling Green State University, and his bachelor’s degree from the University of Michigan.
Michael D. Mabry, a partner in Stradley Ronon’s investment management practice group, counsels investment companies, investment advisers, broker-dealers and other …
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Method of Presentation:
General knowledge in corporate law
NY Category of CLE Credit:
Areas of Professional Practice
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About Vinson & Elkins LLP
With 13 offices worldwide, Vinson & Elkins is committed to excellence in client service, offering clients experience in handling their transactions, investments, projects and disputes across the globe. Established in 1917, the firm’s time-tested role as trusted advisor has made V&E a go-to law firm for many of the world’s leading businesses. The firms Shareholder Activism practice has been ranked first for company defense by SharkRepellent and Refinitiv/Thomson Reuters for Q2 2019, 2018 and 2017, as well as Activist Insight for 2018 and 2017.
About Stradley Ronon Stevens & Young, LLP
Stradley Ronon’s nationally recognized Investment Management Group represents investment company clients with more than 1,500 separate series/funds and assets under management exceeding $2 trillion. The Investment Management Group represents closed-end funds (CEFs), their sponsors, investment advisers and boards of directors in connection with securities offerings, structuring leverage, periodic disclosure requirements, compliance matters and related topics, and represents CEFs in marketing their shares via offerings registered under the Investment Company Act of 1940 and the Securities Act of 1933, on national stock exchanges and through private placements. The group also serves as special counsel to CEFs, investors, industry trade groups and other law firms regarding complex issues arising under the 1940 Act, the 1933 Act, the Securities Exchange Act of 1934, and the rules and regulations of national stock exchanges and the Financial Industry Regulatory Authority.