CommonWealth REIT Investors Seek To Oust Entire Board

Law360, New York (March 13, 2013, 4:50 PM EDT) -- Two of CommonWealth REIT's biggest shareholders made good on their threat to wipe out the firm's board of trustees on Wednesday with a securities filing that sets the stage for a complete overhaul in the face of lackluster returns.

The move comes after Related Fund Management LLC and Corvex Management LP, a hedge fund helmed by an associate of notorious corporate raider Carl Icahn, had promised to force a major shakeup to restore value to the REIT. Together, the New York-based investors own about 8.6 percent...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.