Third Point’s Daniel Loeb Taking the Fight to Sotheby’s Board in Annual Meeting Showdown
|April 18th, 2014||
|In an SEC filing, Daniel Loeb, the contentious, activist hedge fund manager of Third Point LLC, defended his claims that Sotheby’s board of directors is failing in its stewardship of the 270-year old auction house. As reported by Reuters, Mr. Loeb, who led a similar and successful assault on the board of Yahoo in 2012, now finds himself countering claims by Sotheby’s that he lacks the necessary art world experience to make such an assessment. |
The stage is now set for a final proxy fight to take place at Sotheby’s May 6 annual meeting in which Daniel Loeb seeks three seats on the board of directors.
For Detailed Investor Profiles on these Investors, click below: