Davis Quoted on Court Ruling Bolstering New Type of 'Poison Pill'

Partner Gardner Davis was quoted in a Wall Street Journal article published on May 7, 2014, titled “Court Ruling Bolsters New Type of ‘Poison Pill.’” The article discussed a recent decision made by the Delaware Court of Chancery that affirmed the legality of a new type of “poison pill,” a tactic used by a company threatened with an unwelcome takeover bid to make itself unattractive to the bidder. This new arrangement has found favor among companies seeking protection from activist investors. Davis was quoted saying, “If I’m the general counsel of a public company and I’m worried about an activist investor—and these days, everybody is worried—this is…a nice tool to have on the shelf.”