Wall Street Journal Quotes Olshan Partner Andrew Freedman on NOL Poison Pills

The Wall Street Journal’s Moneybeat ran an article about J.C. Penney’s recent use of a more restrictive, reworked poison pill to supposedly protect its tax benefits. J.C. Penney is one of several companies in the past few years to adopt such an NOL poison pill.  Partner Andrew Freedman explains in the article how this could “cut off an activist campaign at the knees” and that “shareholders should look at NOL pills critically” and question whether they are really necessary to protect tax benefits or are instead being used to suppress shareholder rights.