wolfpack

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wolfpack

A family group of wolves that live and hunt together. Be careful out there at night—a wolfpack has been seen roaming that part of the woods.
References in periodicals archive ?
In particular, institutional shareholders with long-term investment objectives and corporate management seeking to implement long-term strategic goals may find themselves particularly disadvantaged in the face of increasing wolf-pack activism.
Wolf-pack activists have different agendas and some may exit before a proxy contest.
In an increasingly crowded activist market, there is a real risk of overpunishing wolf-pack activism: stock prices may suffer due to increased market uncertainty over the legality and potential success of activist campaigns, including those that may yield value for shareholders.
This Part recommends a preemptive disclosure framework that requires three amendments to Rule 13d under the Securities Exchange Act: (1) shortening the current ten-day grace period for making a Schedule 13D filing disclosing when an investor or group acquires a five percent or greater stake in a public company, (2) broadening the definition of "group" under Rule 13d-5 in order to require all activist investors to name the other investors to whom they have disclosed their intention to engage in a proxy fight once they collectively acquire a five percent or greater stake in a public company, and (3) imposing penalties for activists who fail to fully disclose the identities of wolf-pack members.
As such, this requirement would not only better alert boards to possible wolf-pack activity, but also level the playing field for activists who are not part of the wolf pack.
59) This requirement is designed to identify wolf-pack members without having to resort to circumstantial evidence or proxy measures such as "conscious parallelism.