David Baris Quoted in American Banker Article, “Anchor in Washington Facing Proxy Fight”

David Baris was quoted in Jacob Passy’s American Banker article, “Anchor in Washington Facing Proxy Fight,” on September 29, 2015.

Anchor Bancorp in Lacey, Wash., is facing a renewed proxy battle from activist investor Joel Lawson 4th ahead of its annual shareholders meeting in late October.

David Baris, a partner at the law firm of BuckleySandler, said that if Lawson were elected, Anchor would be within its rights to ban him from serving.

“If the bylaw is legally adopted, he’s going to be barred from serving on the board unless he overturns it through litigation or persuading the board or shareholders to change the bylaw,” Baris, who also serves as the president of the American Association of Bank Directors, told American Banker. “The board would appear to have the legal right to establish residency requirements through its authority to adopt bylaws. One could quibble whether it’s absolutely necessary to have them all be a resident of the state … but they have the prerogative to do that.”

Click here to read the full article at www.americanbanker.com (subscription required).

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