General Motors investors turned down Greenlight share plan

General Motors

General Motors shareholders today elected all of the company’s board nominees, overwhelmingly turning down a slate proposed by hedge fund Greenlight Capital and handing a significant defeat to billionaire investor David Einhorn’s bid to divide the company’s shares. Initial outcomes revealed over 91 percent of investors voted against Greenlight’s proposition to have automaker’s offer dividend […]

General Motors shareholders to decide Tuesday on Greenlight stock plan

General Motors

Greenlight Capital’s strategy to split up General Motors’ stock, along with its obstacle to the company’s board of directors, will decide on Tuesday, as the automaker’s shareholders cast their votes on the hedge fund’s propositions. Greenlight’s proxy contest comes during a significant overhaul at GM as CEO Mary Barra looks to jolt the automaker’s lagging […]

Glass Lewis backs General Motor’s board nominees, opposes Greenlight’s proposal

Glass Lewis logo

General Motors stated on Friday proxy adviser Glass Lewis & Co LLC advised shareholders to vote GM’s board nominees and against Greenlight Capital’s proposal at the business’s yearly shareholder meeting in June. Hedge fund manager David Einhorn’s Greenlight has been pressuring the automaker to divide its common stock into two classes to assist increase its […]

General Motors tried to undermine dual-share plan, says Greenlight

Greenlight Capital logo

Greenlight Capital intensified its battle against General Motors, publishing credit ratings documents that it said the car manufacturer inappropriately changed to weaken the hedge fund’s proposal to produce two classes of GM stock. Greenlight, which owns 3.6 percent of the automaker shares, has stated its dual share strategy would increase GM’s worth by creating a […]

General Motors provides information of contacts with Einhorn, CEO Barra’s pay

General Motors

General Motors on Monday detailed in a regulatory filing contacts with billionaire hedge fund official David Einhorn who went public recently with a strategy to enhance the automaker’s value and revealed its slate of board candidates, all whom presently serve on the board. Einhorn, who operates hedge fund Greenlight Capital, has proposed that General Motors […]