Honigman Advises Daniel Mangless in Successful Board Nomination for Zevra Therapeutics

Honigman advised Daniel J. Mangless on his successful effort to add three directors to the classified board of biopharmaceutical company Zevra Therapeutics, Inc. Following a proxy contest, all three of Mangless’ nominees – John B. Bode, Douglas W. Calder and Corey Watton – were elected to the Zevra board at Zevra’s annual meeting of stockholders held on April 25, 2023.

The proxy contest was one of the first applications of the new SEC rules requiring a universal proxy card in contested elections. As the Mangless nominees were also included on the company’s proxy card, Mr. Mangless was able to deliver proxies to only larger holders and permitted smaller holders to vote for the Mangless nominees on the company’s proxy card. A strong retail stockholder base active on social media led to the overwhelming vote in favor of Mangless’ nominees.

Zevra is a rare disease company melding science, data, and patient need to create transformational therapies for diseases with limited or no treatment options.

The Honigman team was led by Philip D. Torrence and Samuel Katz and included associate Isaac Pasha.