CommonWealth Investors Launch New Bid To Oust Board

Law360, New York (November 25, 2013, 2:31 PM EST) -- Activist shareholders concerned about the integrity of CommonWealth REIT's board and its alleged plan to wrest control of the company formally sought Monday to oust the entire body and replace it with a group of “truly independent” members.

Corvex Management LP and Related Fund Management LLC have delivered a formal notice to the REIT and an arbitration panel of their plan to pursue a consent solicitation that would remove the entire board after months of fighting over management of the company.

The two activist funds, alleging...
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