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Insights & News / Noa Raz
Steel Partners sues InMode
We represent US investment fund Steel Partners in litigation against InMode, its CEO, and its board of directors, focused on the question of who qualifies as the de facto controlling shareholder of a public company. In the claim, we argue that although the CEO holds only 7% of InMode’s shares, he effectively exercises control over the company. As a result, the acquisition offer he submitted should be subject to the stricter rules and standards applicable to controlling shareholders. The lawsuit comes amid an escalating battle for control of InMode, which is traded on Nasdaq and has a market capitalization of approximately USD 900 million. Steel Partners is represented by Adv. Micky Barnea, Adv. Eyal Nachshon, Adv. Shay Bello, and Adv. Noa Raz of our firm.
Oversight Duty: What Is Expected of Boards of Directors in an Era of Partial Information and Limited Time?
In recent years, boards of directors have been expected to play an active role in overseeing their companies’ activities. Compliance incidents, cybersecurity failures, safety malfunctions, operational and regulatory crises, and even failures in organizational culture expose board members to public and legal scrutiny.