26 04 2016

Engaged Capital and Outerwall Inc. agreed to appoint to its Board Engaged Capital’s nominee, Jeffrey Brown, and add two other new Board members by August 1.

Olshan represented Engaged Capital with its activist campaign


Olshan client Engaged Capital reached an agrement with Outerwall Inc.: the owner of Redbox DVD rentals and Coinstar cash-exchange kiosks. Outerwall agreed to immediately appoint to its Board Engaged Capital’s nominee, Jeffrey Brown, and add two other new Board members by August 1. Outerwall also agreed to retain a new legal adviser to help it review strategic alternatives. New director Brown will be given notice of, and opportunity to participate in, all meetings between the Board and its advisers related to Outerwall’s review of strategic alternatives. Engaged Capital, LLC is an employee owned hedge fund sponsor. The firm, led by David Earl Demarest, Glenn William Welling, Christopher Bayer Hetrick, Greg Paulsen and Richard Todd Gray is based in Newport Beach (CA). Olshan has represented Engaged Capital with a team including Steve Wolosky (Picture), Aneliya S. Crawford, Ryan P. Nebel and Bachar Mahmoud. Involved fees earner: Steve Wolosky - Olshan Frome Wolosky LLP; Aneliya Crawford - Olshan Frome Wolosky LLP; Ryan Nebel - Olshan Frome Wolosky LLP; Bachar Mahmoud - Olshan Frome Wolosky LLP;

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