Sounds Like Alan R. Kahn is constantly up in everyone else's business and filing lawsuits... What is the Truth about Alan R. Kahn, Kahn Brothers Group Inc.
"Outraged at what they believed was Weyco Management's attempt to buy the company at an undervalued price, Alan Kahn, former president of New York City money management firm Kahn Brothers & Company, and Quest Advisory Group, another New York money manager that held Weyco stock, rallied successfully against the bid.
Kahn's daughter Amanda also filed two separate suits against the company.
Alan Kahn was known for filing lawsuits against company managers and investment bankers that he perceived were not carrying out their fiduciary duty to best represent shareholders.
The company responded cooperatively, and volunteered a shareholder list that the Kahns used to send a letter explaining Alan Kahn's opposition to the proposed deal.
Kahn made the point that he and others believed the proposal by Weyco managers represented an abuse of the super-voting rights shareholders had granted insiders in 1987 as an antitakeover measure.
To some it appeared that managers were pulling their own hostile takeover--hostile to outside shareholders. In the end, Weyco managers announced that they were withdrawing their offer to buy the company, following indications that they were compromising shareholder support, and considering the effects of a long litigation process. "
Sounds Like Alan R. Kahn loves to Stir up Shareholder Trouble
Posted Here by Crystal L. Cox
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