- "Today's decision is a tremendous victory for shareholder rights and for all CommonWealth (NYSE:CWH) shareholders," says Keith Meister (Corvex) and Jeff Blau (Related), commenting on the arbitration panel ruling.
- The panel ruled CommonWealth should return to its previous bylaw which required just a one year wait time before being allowed a date for a consent solicitation. The "3+3" rule adopted by the CWH board would have required a 3-year wait.
- Next up is an October evidentiary hearing in which will further address the validity of the consent solicitation.
- "(We) look forward to (October) and an expeditious and favorable resolution that will enable shareholders to regain control of CommonWealth by year-end."
- Shares +0.8% in thin premarket trade.