Steven Davidoff Solomon

The consequences of saying no to a hostile takeover bid

Steven Davidoff Solomon writes for The New York Times, October 28, 2014

Outperforming the market is almost impossible in the long term. When a buyer is offering top dollar in a hostile offer, it is going to be exceedingly hard for a company’s management to contend that it could do better unless it has a unique product that no one else can replicate.

New study reveals worth in hiring class action law firms

Steven Davidoff Solomon, Thomas Krishnan and CNV Krishnan study quoted in JD Journal, October 16, 2014

“Top plaintiffs’ law firms do engage in more vigorous litigation and produce statistically significantly superior results,” the study said. “Adjusting for … selection bias, we still find that topmost 5 law firms file more documents, have fewer cases dismissed, win more procedural motions and obtain more substantive settlements.”

“We find that top plaintiffs’ law firms do engage in more vigorous litigation and produce statistically significantly superior results,” the study said. “Adjusting for … selection bias, we still find that topmost 5 law firms file more documents, have fewer cases dismissed, win more procedural motions and obtain more substantive settlements.” – See more at: http://www.jdjournal.com/2014/10/16/research-proves-that-class-action-law-firms-are-worth-hiring/?hvid=Mb0nR#sthash.szmLBzbH.dpuf

Starboard wins 12 seats on Darden’s board

Steven Davidoff Solomon interviewed by Bloomberg TV, October 10, 2014

“The Darden board had to have known that the shareholder backlash from selling Red Lobster would be quite heavy. You wonder why they took this step—what were they thinking and what were the advisers telling them for their millions of dollars in fees? … They should have spoken to their shareholders.”

In trying to save Darden, a board sealed its own demise

Steven Davidoff Solomon writes for The New York Times, September 30, 2014

The directors of Darden Restaurants, the owner of Olive Garden and other quintessentially American restaurant chains, may have decided that they would rather commit corporate suicide than give in to the demands of two activist shareholders, Starboard Value and the Barington Capital Group. It would be touching if it didn’t appear to be so inexplicably foolish.

Hedge funds are still finding love, just not at Calpers

Steven Davidoff Solomon writes for The New York Times, September 23, 2014

Given the relatively small amount invested, Calpers was in hedge funds for the wrong reasons. The returns were not there. And unless the pension fund scaled up its investment by tens of billions of dollars, the hedging aspect of hedge funds could not work