Activist Fund Ups Gleacher Stake, Unveils Director Slate

Law360, New York (April 18, 2013, 1:31 PM EDT) -- Activist hedge fund Clinton Group Inc. lifted its stake in Gleacher & Co. to 7.7 percent, according to a Thursday securities filing, about three weeks after it laid the foundation for a proxy battle aimed at a wholesale shakeup of the struggling investment firm.

In addition to announcing its newfound interest in the company, up from  around 1 percent, Clinton unveiled 12 board nominees that include Gleacher CEO Thomas Hughes and former head Lee Fensterstock, as well as two of the hedge fund's executives. The group...
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