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June 5, 2013

The chief executive of the US-based Morgans Hotel Group has urged shareholders to reelect the existing board of directors, and reject a bid by two families to place their children at the helm of the company.

The chief executive of the US-based Morgans Hotel Group has urged shareholders to reelect the existing board of directors, and reject a bid by two families to place their children at the helm of the company. He has also said that, if reelected, the board will consider strategic alternatives for the company, including its sale.

Michael Gross said Michael Olshan, Andrea Olshan and Jason Taubman Kalisman do not have the relevant business, industry or public company experience to qualify them to serve as directors.

October 1, 2010

The war of words between the Riggio family and activist investor Ron Burkle came to a head this week at the Barnes & Noble annual general meeting when shareholders voted on Burkle’s proposals to change the company’s governance structure, writes Katie Barker

The war of words between the Riggio family and activist investor Ron Burkle came to a head this week at the Barnes & Noble annual general meeting when shareholders voted on Burkle's proposals to change the company's governance structure, writes Katie Barker.

The Riggio family succeeded in defending its position when shareholders voted to reinstate Leonard Riggio as chairman of the board and failed to pass Burkle's plan to loosen a poison pill provision that allows the family to hold the largest share.

September 15, 2010

Yucaipa Companies, the investment firm of activist shareholder Ron Burkle, has sent a letter to his fellow shareholders to “set facts straight on company performance” and dispute claims made by the Barnes & Noble board on 9 September.

Yucaipa Companies, the investment firm of activist shareholder Ron Burkle, has sent a letter to his fellow shareholders to "set facts straight on company performance" and dispute claims made by the Barnes & Noble board on 9 September. 

The letter, entitled "Enough with the fiction", accuses the Barnes & Noble board of attempting to "scare you with misleading statements about Yucaipa to distract you from the real issues."

September 10, 2010

Barnes & Noble, the US bookseller controlled by the Riggio family, has sent a letter to shareholders urging them to vote against proposals made by activist shareholder Ron Burkle.

Barnes & Noble, the US bookseller controlled by the Riggio family, has sent a letter to shareholders urging them to vote against proposals made by activist shareholder Ron Burkle.

In the letter, sent 9 September, the Barnes & Noble board asks shareholders to vote against both of Burkle's proposals at the annual general meeting on 28 September. It also attempts to outline how decisions taken by company management have increased shareholder value, contrary to Burkle's claims.

September 3, 2010

US activist investor Ron Burkle shows no signs of giving up his efforts to gain greater control of bookseller Barnes & Noble when he announced that he is appealing a court decision involving control of the family-controlled company.

US activist investor Ron Burkle shows no signs of giving up his efforts to gain greater control of bookseller Barnes & Noble when he announced that he is appealing a court decision involving control of the family-controlled company.

In August, a court in Delaware ruled against Burkle's legal attempt to have the poison pill provision removed, which allows the founding Riggio family to remain as the company's largest shareholders with 34% of shares.

August 25, 2010

US bookstore group Barnes and Noble is unlikely to have fended off activist shareholder Ron Burkle, who is attempting to wrestle control of the family-controlled business, following the release of its end of quarter results on Tuesday.

US bookstore group Barnes and Noble is unlikely to have fended off activist shareholder Ron Burkle, who is attempting to wrestle control of the family-controlled business, following the release of its end of quarter results on Tuesday.

The company reported a net loss of $63 million for the quarter ending 31 July, despite total sales increasing by 21% to $1.4 billion, compared with the same period last year.

Shareholders weren't impressed, with the stock price in the New York-based group falling 2.2% to $14.66.

August 13, 2010

Despite losing his bid to remove a poison pill provision at family controlled Barnes & Noble, Ron Burkle, the activist investor, looks set to continue his pressure on the New York-based bookseller.

Despite losing his bid to remove a poison pill provision at family controlled Barnes & Noble, Ron Burkle, the activist investor, looks set to continue his pressure on the New York-based bookseller.

A court in Delaware ruled against Burkle's legal attempt to have the provision removed, which allows the founding Riggio family to remain as the company's largest shareholders with 34%.

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