LAWorld welcomes new member firm in Mexico City!


With pleasure LAWorld welcomes the firm of BERMUDEZ, WIENCKE & BERMUDEZ, ABOGADOS, S.C., Mexico City, as a member of its network. The senior partner of the firm is Víctor L. Bermúdez, who shares the role of contact for LAWorld with Eduardo Rubio. The firm has six partners, 30 associates, with a total of 65 employees. It is a full service firm with emphasis on corporate work, industrial property and litigation.


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. 

Business News

S&P 500 on track to end at record; BoJ move adds fuel to rally
Fri, 31 Oct 2014 18:56:34 GMT
NEW YORK (Reuters) - U.S. stocks rose sharply on Friday, with the Dow hitting an intraday record hig...
Top U.S. oil companies see more pressure to clamp down on spending
Fri, 31 Oct 2014 18:54:38 GMT
HOUSTON (Reuters) - Top U.S. oil producers, which already were reining in spending before crude pric...
U.S. Fed awards most reverse repos in over four weeks
Fri, 31 Oct 2014 18:33:43 GMT
NEW YORK (Reuters) - The U.S. Federal Reserve awarded $186.28 billion in fixed-rate reverse repurcha...
Dollar General extends tender offer for Family Dollar shares again
Fri, 31 Oct 2014 18:00:45 GMT
(Reuters) - Dollar General Corp extended its tender offer for shares of Family Dollar Stores Inc to ...

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

Asia/Pacific Regional Meeting (Kuala Lumpur) from 9am on Wednesday the 19th of November, 2014 to 1pm on Thursday the 20th of November, 2014

North/Latin Americas Regional Meeting (Las Vegas) from 7pm on Thursday the 13th of November, 2014 to 5pm on Saturday the 15th of November, 2014

See All Events
 
LAWorld
Email: mail@laworld.com