Younger Lawyers Forum and Lawyer Exchanges

LAWorld Next Generation (LNG) is a forum for younger lawyers. More than thirty young business lawyers meet up twice a year to exchange ideas, legal updates and business opportunities.  These meetings combine formal business and general discussion sessions with social and cultural events which encourage business networking and getting to know each other.

In addition, members of LAWorld regularly exchange young lawyers for either several weeks or several months and these exchanges offer the following benefits:

• Unique career opportunities for trainees and younger lawyers

• Helps to attract and hold the best law applicants to your firm

• Effective way of 'getting to know' LAWorld colleagues and strengthen awareness of LAWorld with all lawyers in member firms

• Fast track improvement of language skills and foreign laws and judiciary systems

LAWorld encourages all its members to take advantage of this tremendous opportunity. For more information on LNG please email Friederike Jawad (f.jawad@ac-tischendorf.com) and Stefan Kunz (kunz@bgpartner.ch) who are LNG’s Organization Committee.

LAWorld News

Olshan achieves unprecedented victory in proxy fight

Starboard Value LP, a well-regarded activist hedge fund based in New York and represented by New York law firm Olshan Frome Wolosky LLP,  has won full control of the board of directors of Darden Restaurant Inc., owner of popular restaurant chains such as the Olive Garden, after a failed attempt to reach a settlement. 

When Starboard bought into Darden, it began a standard activist campaign, both privately and publicly calling for changes to business strategy and corporate governance in order to enhance shareholder value. Darden ignored the concerns voiced by a majority of its shareholders and nevertheless went ahead with a sale of its Red Lobster restaurant chain. This blatant disregard for its shareholders paved the way for Starboard to capitalize on this shareholder discontent and propose a new, full slate of director nominees, comprised of savvy restaurant industry veterans, such as the founder of TGI Friday’s Inc. and the former CEO of Burger King. 

During the proxy contest, Starboard’s proposed slate of directors earned even greater credibility when the top proxy advisers Institutional Shareholders Services Inc. and Glass Lewis & Co. LLC resoundingly endorsed not just all of the nominees, but also Starboard’s overhaul plan for transforming the company. Darden vehemently fought back, making a number of last-minute changes that failed to curry favor with shareholders, while Starboard, having secured the support of institutional investors, appealed to Darden’s large retail shareholder base. Finally, at Darden’s Annual Meeting, shareholders voted to replace its entire board with the slate of 12 directors nominated by Starboard. 

The Wall Street Journal, The New York Times DealBook, CNBC, Bloomberg and Reuters all published stories about what Law360 described as a “landmark victory in one of the most contentious proxy fights of the year.” 

Olshan Frome Wolosky LLP partner Steve Wolosky, named by Reuters as a “go-to” lawyer for activist investors, with partner Andrew Freedman and associate Meagan Reda, represented Starboard in this historic win and continue to counsel Starboard in other activist campaigns to increase shareholder value at other companies. 

To learn more about the campaign, please contact LAWorld member and Olshan partner Andrew Lustigman at alustigman@olshanlaw.com, who will be able to put you in touch with the team. 

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Upcoming Events

Europe/Middle East Regional Meeting (Milan) from 5pm on Friday the 18th of September, 2015 to 5pm on Saturday the 19th of September, 2015

2015 LAWorld Annual Conference & AGM (Washington DC, USA) from 5pm on Tuesday the 28th of April, 2015 to 2pm on Friday the 1st of May, 2015

Europe/Middle East Regional Meeting (Istanbul, Turkey) from 5pm on Thursday the 5th of February, 2015 to 4pm on Sunday the 8th of February, 2015

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