Lowenstein Sandler’s Securities Litigation team, led by practice group Chair Thomas E. Redburn, Jr. and including counsel Maya Ginsburg, has prevailed on behalf of activist shareholder Gabi Gliksberg, managing partner of ATG Capital Management, in successfully passing a contested proposal calling for the declassification of the board of Texas Pacific Land Corporation (TPL).
Redburn and Ginsburg successfully opposed TPL’s formal request to the Securities & Exchange Commission (SEC) that the SEC refrain from enforcement action against TPL for its intended exclusion of the proposal to declassify the board from the proxy materials distributed prior to TPL’s annual meeting. The proposal was included for a shareholder vote, and a majority of TPL shareholders voted in favor of the proposal.
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