Freedman Quoted in Law360 on Sessa’s Proxy Case and its Implications

Andrew Freedman, Co-Head of the Shareholder Activism Practice, was quoted recently in a Law 360 article discussing the proxy contest between activist Sessa Capital and Ashford Hospitality Prime Inc.  Freedman was quoted about Ashford Prime’s use of a termination fee as a “proxy penalty” to chill the proxy contest, stating, “The proxy penalty just shows the kind of highly insular and entrenched nature of Ashford Prime and, for that matter, many Maryland REITs and all of the conflicts of interest that board members tend to have on Maryland REITs.”