Silicon Valley law firm Wilson Sonsini Goodrich & Rosati has added an experienced attorney to its shareholder activism practice in response to increased pressure from corporate agitators. Sebastian Alsheimer, a partner at Olshan who has worked for notable activists such as Elliott Management and Starboard Value, will join Wilson Sonsini as the co-leader of shareholder activism.
Alsheimer has extensive experience with blue-chip activists and the newer generation of agitators, and his expertise in handling complex corporate matters is highly regarded. He most recently represented Elliott Management when they negotiated a board seat at Pinterest Inc and assisted Alta Fox in their fight against Hasbro Inc.
Doug Clark, the managing partner at Wilson Sonsini, says that with the increasing levels of shareholder activism and corporate competition, their engagement and activism practice has been growing rapidly. He considers Alsheimer, an exceptional lawyer who both investors and issuers respect. Alsheimer will be based in New York, working closely alongside Doug Schnell, a partner, and leader of the shareholder activism practice.
Data from Lazard reveals that in 2022, there were 235 campaigns launched worldwide, an increase of 36% from the previous year, making it the busiest year for shareholder activism in four years. Currently, Nelson Peltz’s Trian Fund Management is pushing for a board seat at Walt Disney, while four activists – Starboard Value, ValueAct Capital Management, Inclusive Capital Partners, and Elliott Management are pushing for changes at Salesforce Inc.
Wilson Sonsini ranked seventh on Refinitiv’s Shareholder Activism Scorecard in the twelve months up to June 30th, 2022. With Alsheimer now added to their team, they will be in an even better position to provide clients with superior service and advice. Moreover, the law firm will benefit from Alsheimer’s knowledge of the activists’ strategies and his understanding of successfully navigating a shareholder activism campaign.
Overall, this move demonstrates Wilson Sonsini’s commitment to staying up-to-date with current trends in shareholder activism and providing their clients with the best legal advice possible. It is an exciting development that could lead to some interesting campaigns this year. We look forward to seeing how Wilson Sonsini responds to future activist challenges with Alsheimer on board.
REFERENCES:
U.S. law firm Wilson Sonsini hires Alsheimer from Olshan for activism practice