Monday, November 16, 2009

Bingham McCutcheon

On October 28th I reported here that dissident shareholders led by Shamrock had won a showdown with the incumbent board of Texas Industries (TXI) the supplier of cement and other building materials (not to be confused with Texas Instruments).

I've just discovered a press release in which the prominent law firm Bingham McCutcheon crows about these results. It tells us that its partners, David Robbins and John Filippone, assisted by associate James Parker, represented Shamrock Activist Value Fund, L.P. in this matter.

Personally, I'm not at all clear about what those three gentlemen did. Did they give advice? Was there ancillary litigation in which they made themselves useful?

There are lots of documents to be drafted in the course of a proxy fight. And of course there are complicated documents that govern the relations among the Shamrock entities and between them and their underlying investors. So there is plenty these gentlemen might have done. I just wish the release they put out had been a little bit more explicit.

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