
Ethan Allen, Hedge Fund Activism and Prevailing Over Conventional Advice and Practice
Ethan Allen and its management prevailed a few weeks ago against an intense hedge fund activist campaign to remove its entire board of directors.
An analyst of one of our larger shareholders, the Gabelli funds, observed “I’ve never seen a company mount a better campaign against an activist investor than Ethan Allen did… Farooq Kathwari did a good job of implementing their strategy and tactics, to the point where people might study this as an example of how management can push back against an activist investor.” To explain, the Ethan Allen management and board directly engaged and listened to our … Read more