Lowey Dannenberg has secured major courtroom victories, injunctive relief and cash recoveries for activist money managers invested in public companies, in cases involving voting rights and fair compensation in mergers and acquisitions, including appraisal rights cases, and in cases involving proxy contests and related corporate governance issues.

Our investor rights practice group frequently stretches the creative bounds of this area of the law. Recently, for example, we won approval of the settlement of a unique derivative lawsuit challenging excessive compensation and asset transfers to a corporate officer. In another recent matter, following a proxy contest, we won a precedent setting ruling that an activist shareholder could defeat a quorum by not voting proxies that it had solicited. Lowey Dannenberg lawyers take pride in finding innovative legal solutions for clients.

Our institutional investor clients have included Millennium Partners, Glickenhaus & Co., Dolphin Associates, LLC, Doft & Co., Karpus Investment Management, Laxey Partners (U.K.), Laddcap Value Partners, Santa Monica Partners, and funds managed by activist investor Phil Goldstein.

Cases include:
 

Increase in share price and change in voting rights to ensure fair review of proposal for Aramark shareholder class led by UFCW Tri-State Pension Fund

 

Settlement gaining board seats and reimbursement of litigation expenses from Delcath Systems, Inc. following victory in emergency appeal for Laddcap Value Partners

 

Blocked ratification of an unfavorable new management agreement for Salomon Brothers Asset Management by winning precedent setting opinion for Karpus Investment Management

 

Additional compensation for class of NYSE seatholders in Archipelago Merger

 

$99 million of additional merger compensation for class led by our client Dolphin Limited Partners

 

Won appraisal award after trial of $2.43 per share more than public shareholders who did not seek appraisal for clients holding Travelocity securities including an institutional investor and an investment advisor

 

Incumbent director elections invalidated, new election ordered and entire board of directors of MVC Capital replaced with our clients' slate for Millennium Partners

 

Successful opt-out strategy in DaimlerChrysler Litigation led to highly favorable (confidential) recovery for our clients relative to class settlement for Glickenhaus & Co. and corporate affiliates