April 3, 2018
Today Kleinberg Kaplan clients Orchestra-Prémaman S.A. and Yeled Invest S.A. entered into a Support Agreement with Destination Maternity Corporation that resulted in two new directors, Pierre-André Mestre and Jean-Claude Jacomin, immediately joining the Board of Directors of Destination Maternity. Orchestra and Yeled were able to successfully achieve a full one-third representation on the Board without the submission of nominations or a proxy contest. The Support Agreement also creates a new Business Initiatives Committee, with Messrs. Mestre and Jacomin as key members, to identify operational improvements for the benefit of all stockholders.
Kleinberg Kaplan activist attorneys Christopher P. Davis and Rebecca L. Van Derlaske advised Orchestra and Yeled in connection with both their 2017 proxy contest and today’s settlement.