Sotheby’s Gets Backing of Proxy Firm Glass Lewis

I guess we’ll call it a tie. Late yesterday, Glass Lewis issued their advice on the Sotheby’s board fight siding with current management against Daniel Loeb’s campaign:

Glass Lewis said that Sotheby’s has been responsive to shareholder concerns: “In this case, we believe the Dissident has identified certain areas of concern, but ultimately has fallen short of making a compelling case that additional changes in the boardroom are warranted at this time beyond those already implemented by the Company.”

Proxy adviser Glass Lewis backs Sotheby’s board candidates | Reuters.