Sullivan & Cromwell Bolstering Activism Practice With New Hires
Sullivan & Cromwell is beefing up its practice that defends corporations against shareholder activist attacks.
The prestigious New York-based law firm is set to hire two top activism defense lawyers, Lawrence Elbaum and Patrick Gadson, from Vinson & Elkins, according to people familiar with the matter.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
10 minutes ago
- Yahoo
Long-awaited project nears start next to The River District in west Charlotte
McCraney Property Co. is moving closer to starting its long-awaited industrial park on Garrison Road in west Charlotte. The Florida-based developer plans to start construction later this summer on a new road at and around the project site, McCraney's Massie Flippin said. The road will connect West Boulevard to Dixie River Road, he said. READ: 'A great place': Concord unveils new downtown after years of construction The road project is expected to take 12 months to complete. It will pave the way for the Logistics 485 at The River District industrial park. McCraney has long planned a five-building, 1.2 million-square-foot industrial park at the approximately 150-acre site on Garrison Road. It is now working on a site plan that calls for seven industrial buildings totaling 1.3 million square feet of industrial space. Read more here. WATCH: 'A great place': Concord unveils new downtown after years of construction
Yahoo
19 minutes ago
- Yahoo
Circle rally, EchoStar bankruptcy report, IonQ acquisition
Here are some of the stories Wall Street is watching on Monday, June 9. Circle's (CRCL) post-IPO rally has given the Ark Fintech Innovation (ARKF) fund a big boost. EchoStar (SATS) is considering bankruptcy according to a report from the Wall Street Journal. IonQ (IONQ) is acquiring a UK quantum startup called Oxford Ionics. Stay up to date on the latest market action, minute-by-minute, with Yahoo Finance's Market Minute. It's time for Yahoo Finance's Market Minute. Shares of the Ark Fintech ETF hit the highest level since 2021. The rally led by Circle which has surged nearly 300% since its IPO last week, up about 3% on the day. The ETF's top holdings also include Shopify, Robinhood and Coinbase. The fund is just under 20% so far this year. And shares of Echostar, the parent company of Dish and Boost Mobile falling. The company is reportedly considering a Chapter 11 bankruptcy filing to protect its licenses from a looming FCC inquiry, according to The Wall Street Journal. And IonQ shares rising on news that is acquiring UK-based quantum computing startup Oxford Ionics in an over $1 billion deal. The company saying the merger will set a new standard in quantum computing and deliver superior value for customers. And that's your Yahoo Finance Market Minute. For more on what's trending on Yahoo Finance, scan the QR code below to track the best and worst performing stocks of the session. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


New York Post
26 minutes ago
- New York Post
Whole Foods' shelves could get bare as supplier shuts down deliveries after cyberattack
A major supplier to Whole Foods said it has shut down deliveries after it was hacked – leading to fears of empty store shelves. United Natural Foods, a $31 billion distributor of natural and organic products, said in a regulatory filing on Monday that it 'identified unauthorized activity in our systems' and has notified law enforcement while it conducts an investigation. The Rhode Island-based company, also known as UNFI, discovered the issue last week and took 'some systems offline while we investigate,' according to the filing. Advertisement 3 United Natural Foods is a major distributor of natural and organic grocery items. UNFI 'We are assessing the unauthorized activity and working to restore our systems to safely bring them back online.' The company reached out to its retail customers on Saturday and Sunday informing them that there will be no deliveries on Monday, adding that it did not know when the disruption would end, sources told The Post. Advertisement 'It's bringing the company to a standstill with no orders generated and no orders coming in,' said Steve Schwartz, director of sales for the Morton Williams grocery store chain in New York City. Among the items that Morton Williams' 20 stores receive from UNFI are frozen and dairy items, including Stoneyfield yogurts as well as Sanpellegrino and La Croix sparkling waters. 3 Whole Foods has not commented on how the UNFI outage will impact its stores. Christopher Sadowski The chain has already contacted other distributors to supply these and other items if the disruption is prolonged, Schwartz said. Advertisement But others were more immediately impacted. 'I work at a Diamond store in a scratch bakery and they aren't even sending us flour, cake blanks or brown butter cookies,' wrote one Reddit user on Sunday. 'We're trying to figure out if we need to call all our customers who have special orders in this week, because of course its graduation week too.' Another bakery business posted 'we're out of components to make the cakes and tarts so we'll have an empty case til we get our delivery. We sold out of a lot last night so today will be $0 cake sales 🙃Can't do much production. Basically will bake off what we have for the floor until something else comes in.' 3 UNFI is one of Whole Foods primary distributors. Christopher Sadowski Advertisement A person who identified as a UNFI employee posted, 'Our systems went down nationwide around 3:30 pm last Friday. At my location they have been calling us in every day since to come pick y'all's groceries in hopes that our systems come back on. So far that has not been the case. That's all we know, corporate isn't telling us s–t.' Whole Foods did not immediately comment. UNFI is scheduled to announce its third quarter results on June 10. Its shares are down 8.5% on Monday to about $25. 'It's a mystery as of yet what is going to happen and how long it's going to be until things are back to normal,' wrote another Reddit user who identified as a UNFI employee. 'Was told by the branch VP that even when they can start to get back on track it will have to be done in phases. So it's gonna be a while for things to be back on track fully.' Victoria's Secret delayed its earnings release last week after a cyber attack resulted in its website going dark for several days last month.