On the latest episode of The Deal's Activist Investing Today podcast, White & Case partner Richard Brand discusses corporate bylaws that seek information from activists nominating directors and the potential development of a common set of best practices around these bylaws.
Richard details the unique circumstances that have led to the current landscape where the market for these bylaws has been largely established by courts rather than through private ordering between shareholders and boards.
Richard advises that boards should be mindful of the current sensitivity around these bylaws, saying: "There ought to be a thoughtful balancing of the interests of shareholders and the interests of the board... boards need to be cautious about pushing it too far and offending shareholders, because that can be counterproductive."
Listen to the episode here.
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