{"id":5520,"date":"2013-11-24T00:00:00","date_gmt":"2013-11-24T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/11\/commonwealth_reit_shareholders"},"modified":"2022-05-04T14:34:51","modified_gmt":"2022-05-04T19:34:51","slug":"commonwealth-reit-shareholders","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/commonwealth-reit-shareholders\/","title":{"rendered":"CommonWealth REIT Shareholders Gets New Vote on Whether to Oust Its Board"},"content":{"rendered":"\n

In the dispute between investors and CommonWealth REIT (CWH) over whether to oust its board, an arbitration panel said that attempts by shareholder to remove trustees were not valid but that a new vote could go forward. Related Cos. and Corvex Management LP, both CommonWealth shareholders, have been trying to get the board of trustees removed because they believe there was mismanagement and conflicts of interest. <\/p>\n

They blamed this in part on CommonWealth President Adam Portnoy and his dad (and company founder) Barry owning external management firm REIT Management and Research LLC. The two of them are also on REIT\u2019s board.<\/p>\n

Corvex and Related claim that they were able to get support from holders that owned over 70% of the shares to get the trustees taken out. However, CommonWealth not only denies the conflict of interest claims but also contends that per its bylaws the vote was not valid.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In the dispute between investors and CommonWealth REIT (CWH) over whether to oust its board, an arbitration panel said that attempts by shareholder to remove trustees were not valid but that a new vote could go forward. Related Cos. and Corvex Management LP, both CommonWealth shareholders, have been trying to get the board of trustees […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3740],"tags":[],"class_list":["post-5520","post","type-post","status-publish","format-standard","hentry","category-miscellaneous"],"yoast_head":"\nCommonWealth REIT Shareholders Gets New Vote on Whether to Oust Its Board — Investor Lawyers Blog — November 24, 2013<\/title>\n<meta name=\"description\" content=\"In the dispute between investors and CommonWealth REIT (CWH) over whether to oust its board, an arbitration panel said that attempts by shareholder to — November 24, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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