July 7, 2023
Willkie recently represented Barry Sternlicht, Chairman and CEO of Starwood Capital Group, in his successful proxy contest at Cano Health, Inc., a leading value-based primary care provider.
On June 16, Cano Health announced the resignation of CEO Dr. Marlow Hernandez following the annual meeting of stockholders, where the overwhelming majority of voting stockholders rejected a reverse stock split transaction and executive compensation program proposed by Dr. Hernandez and the Board of Directors, and withheld support for the re-election of two directors.
Sternlicht and two other directors resigned from the Cano Board in March and formed a shareholder group together holding approximately 35% of Cano Health stock. The group initiated a campaign, including litigation in the Delaware Court of Chancery, to remove the leadership of Cano Health and preserve shareholder value.
Cano Health is technology-powered healthcare company delivering personalized, value-based primary care to approximately 390,000 members. Founded in 2009, Cano Health is headquartered in Miami and operates primary care medical centers and supports affiliated providers in nine states and Puerto Rico.
The Willkie team was led by partners Russell Leaf, Jared Fertman and Amanda M. Burke.
On June 16, Cano Health announced the resignation of CEO Dr. Marlow Hernandez following the annual meeting of stockholders, where the overwhelming majority of voting stockholders rejected a reverse stock split transaction and executive compensation program proposed by Dr. Hernandez and the Board of Directors, and withheld support for the re-election of two directors.
Sternlicht and two other directors resigned from the Cano Board in March and formed a shareholder group together holding approximately 35% of Cano Health stock. The group initiated a campaign, including litigation in the Delaware Court of Chancery, to remove the leadership of Cano Health and preserve shareholder value.
Cano Health is technology-powered healthcare company delivering personalized, value-based primary care to approximately 390,000 members. Founded in 2009, Cano Health is headquartered in Miami and operates primary care medical centers and supports affiliated providers in nine states and Puerto Rico.
The Willkie team was led by partners Russell Leaf, Jared Fertman and Amanda M. Burke.
