CNBC: Glass Lewis endorses 6 of activist Ancora’s nominees for Norfolk Southern board

CNBC reports:

Activist investor Ancora received a powerful endorsement in its efforts to secure a board change and to oust Norfolk Southern CEO Alan Shaw on Monday, when proxy advisor Glass Lewis recommended the railroad’s shareholders vote for 6 of Ancora’s board nominees.

“We believe Ancora has presented a compelling case for supporting a substantial overahul of the Company’s current leadership,” Glass Lewis said in its report.

The recommendations for the activist nominees, rare at a company of NSC’s size and in its industry, could influence how thousands of investors with millions of shares vote ahead of Norfolk Southern’s shareholder meeting on May 9…

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