Cravath Wins Three Proxy Contests In Two Weeks

Within a span of two weeks, Cravath won three proxy contests on behalf of three separate clients. Each contest included successful votes in opposition to certain recommendations of Institutional Investor Shareholder Services (ISS), the nation’s largest and most influential proxy-advisory firm. The New York Times, among others, noted the exceptional number and nature of Cravath’s proxy victories.

At Airgas’s annual shareholder meeting on September 15, 2010, Cravath client Air Products succeeded in its proxy contest to elect its three nominees to the Airgas Board and obtain the approval by Airgas shareholders of three bylaw amendments proposed by Air Products. This win was followed on September 23 at the Annual Meeting of Cravath client Casey’s General Stores at which Casey’s shareholders re-elected all of the Company’s incumbent directors in the proxy contest launched by Alimentation Couche-Tard. Cravath’s third victory, on behalf of client Barnes & Noble, came on September 28 following its Annual Meeting at which shareholders re-elected Len Riggio and elected David Golden and Dr. David Wilson to the Board of Directors, a complete victory for the Board Slate.