Third Point Files A Lawsuit Against Proxy Contest Target Campbell Soup

Third Point Files A Lawsuit Against Proxy Contest Target Campbell Soup

Dan Loeb’s Third Point Partners filed a lawsuit against proxy contest target Campbell Soup, alleging the company made omissions in its mailings to shareholders. The activist accused the company of failing to disclose information about the qualifications of some current board members, the departure of CEO Denise Morrison in May, the company’s strategic review, and alleged conflicts by one of the board members.

A court hearing this week could delay voting in the proxy fight or force the Dorrance family board members to resolicit some of the votes they have already collected (the founding family, which supports the incumbent board, holds 41% of the company’s stock).

The Man Behind TCI: One Of The World’s Top-Performing Hedge Funds

TCI David Marcus Investment ResearchThe Children's Investment Fund Management LLP is a London-based hedge fund firm better known by its acronym TCI. Founded by Sir Chris Hohn in 2003, the fund has a global mandate and supports the Children's Investment Fund Foundation (CIFF). Q3 2021 hedge fund letters, conferences and more The CIFF was established in 2002 by Hohn Read More

Get Our Activist Investing Case Study!

Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!

Q3 hedge fund letters, conference, scoops etc

What we'll be watching for this week

  • Will Ryanair respond to the Local Authority Pension Fund Forum’s calls for its chairman’s head?
  • Will Athenahealth reach a deal in two weeks’ time just as it expects?
  • Will Z Capital Partners and Affinity Gaming advance another offer for Full House Resorts after their latest one was rejected last week?

Activist shorts update

Citron Research quit its short position in Tesla last week after more than five years and has gone long the stock instead. In an online report, Citron outlined Tesla’s superior position in the electric vehicles market and looked forward to the company’s introduction of its Model 3 into the European market, as well as new factories in Europe and Shanghai.

Despite praising former CEO Elon Musk for the growth and improvement of the company, the activist did not hold back on its criticism of the chairman and stated that it is still suing Tesla and Musk for his manipulation of the market with false statements on Twitter in August regarding a going-private bid for the company.

Also, Kase Learning announced that it will be hosting its second short selling conference on December 3. Readers of this newsletter can get a 10% discount on the conference – the only idea-led conference to focus exclusively on shorts – using the discount code ACTIVIST10. The code is valid whether you register to attend in-person or watch via the livestream.

To arrange an online demonstration of Activist Insight Shorts, email us or view our product brochure to find out more.

Chart of the week

The number of U.S.-based companies publicly subjected to activist demands for board representation between January 1 and October 26 in respective years.

Chart of the week Oct 30 2018

Updated on

Financial news and data providers Activist Insight and Proxy Insight announced in October 2020 that they had merged to form Insightia, a leader in the field of public company information. Activist Insight was formed in 2012 and offers an extensive range of products including Activist Insight Online, Activist Insight Governance, Activist Insight Vulnerability, Activist Insight Shorts, Activist Insight Monthly magazine, and The Activist Insight Podcast. Proxy Insight has quickly become the world’s leading source of information on global shareholder voting, covering such hot topics as director and auditor elections, “say on pay” resolutions and environmental, social, and governance (ESG) proposals.
Previous article 2018 Sohn Conference In San Francisco Coverage
Next article Tom Gayner Reveals How He Decided To Shift To Investing

No posts to display