Funds Defend Zell After CommonWealth's Proxy Attacks

Law360, New York (March 14, 2014, 2:00 PM EDT) -- New York activist funds Corvex Management LP and Related Fund Management LLC on Friday blasted CommonWealth REIT’s “desperate, disingenuous and diversionary tactics” to discredit billionaire investor Sam Zell, ramping up their offensive in the contentious proxy battle to remove CommonWealth’s board of trustees.

In response to CommonWealth’s Thursday accusations that Zell’s other holdings constituted a conflict of interest making him ill-suited to lead the takeover effort, Corvex and Related have defended Zell’s management prowess and his “unrivaled” track record of launching the three most successful REITs...
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