Wolosky Defends Activist Investors in Wall Street Journal Story on Proposed Legislation

Activist Practice Chair Steve Wolosky was quoted in a The Wall Street Journal article titled “Democrats Take Aim at Activist Investors” regarding two Senate Democrats who introduced a bill aimed at lessening the impact activists may have on companies.  Steve points out how the proposed bill mischaracterizes activist investors in failing to acknowledge how activist investors work to improve and strengthen underperforming companies, noting, “It is disappointing that the legislators are focusing the blame on activists, while blatantly ignoring the substantial value that has been preserved and created by activists seeking to hold poorly managed boards accountable.”