Delaware's Strine: Activist Intentions Often At Odds With Ordinary Investors

Jun 10 2017 | 12:23am ET

The intentions of activist investors don’t always coincide with those of ordinary investors, Delaware Supreme Court Chief Justice Leo Strine said during The Deal’s 2017 Corporate Governance Conference. 

Strine, who added that the loudest voices come from activist funds and not index funds, made the remarks to founder Jim Cramer in New York on Monday as part of the conference’s keynote address, according to Reuters. 

"I think it's very frustrating for companies because you're not always sure that the people who are speaking really are aligned with investors," Chief Justice Strine said. 

Other topics covered during the one-day event included whether the surge in the bitcoin price since the spring is related to companies pre-emptively acquiring coins in anticipation of future WannaCry-esque ransomware attacks, as well as corporate governance hot button issues such as containing activist campaigns and the merits of Snap’s novel non-voting share structure.

The Deal provides intraday coverage of mergers, acquisitions and all other changes in corporate control to institutional investors, private equity, hedge funds and the firms that serve them. It is a business unit of TheStreet, a financial news and information provider. 

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