Glass Lewis recommends ADP investors vote for Ackman’s slate

BOSTON (Reuters) – Proxy advisory firm Glass Lewis recommended on Monday that Automatic Data Processing Inc shareholders vote for all three dissident directors proposed by activist investor Bill…

Hedge fund Marcato sues Deckers over board election

BOSTON (Reuters) – Marcato Capital Management sued Deckers Outdoor Corp on Monday to force the maker of Ugg boots to hold its annual meeting and classify the hedge fund’s board nominees so the…

Fidelity Chairman’s video to employees: no tolerance for harassment

BOSTON (Reuters) – Fidelity Investments Chairman Abigail Johnson on Monday delivered a direct message to more than 40,000 employees at the asset management company: There’s no tolerance for…

Activist mulls next step after failed Johnston Press board ousting

LONDON/BENGALURU (Reuters) – Activist investor Custos Group is considering its next steps after discovering a clause in a bondholder deal that hindered its attempt to oust Johnston Press top…

SoFi held sale talks, but bidders balked at $8 billion price: newspaper

NEW YORK (Reuters) – Social Finance Inc discussed a potential sale earlier this year, including with financial services company Charles Schwab Corp, but the talks fell apart over the $8 billion price…

‘Dr. Doom’, Marc Faber, removed from more boards after comments on race

NEW YORK (Reuters) – Marc Faber, the markets prognosticator known as “Dr. Doom,” has been dismissed from three more company boards after comments in his latest newsletter this week suggested the…

Nestle CEO praised by Third Point but hedge fund still wants more

LONDON/BOSTON (Reuters) – Nine months into leading the world’s biggest packaged food company, Nestle SA Chief Executive Mark Schneider got a tentative thumbs-up from a prominent investor, who…

Third Point takes stake in Dover Corp, urges changes: letter

BOSTON (Reuters) – Billionaire investor Daniel Loeb’s hedge fund Third Point LLC bought a stake in Dover Corp during the third quarter and is urging the industrial conglomerate to sell off its energy…