Obagi Medical Products Shareholders Vote Down Management's Poison Pill

On Halloween, infamous corporate raider Carl Icahn showed up on Netflix’ doorstep with something designed to truly frighten those in charge of the troubled DVD-and-streaming-video giant: an announcement that he’d taken a nearly 10% share in the company, the opening move in a possible hostile takeover — or at least some sort of big shakeup — that would likely leave a lot of the current execs looking for new jobs.

By Scott Matusow:Lately there has been a lot of buzz on a company I have been writing about called Obagi Medical Products (OMPI).

By Scott Matusow:I chose the title to this article based on the old adage of "sh**t or get off the pot" -- my sentiments regarding the ongoing Obagi Medical Products (OMPI) saga that has escalated to its current point after VOCE Capital Management wrote an updated note to Obagi shareholders

TORONTO — Agrium Inc won another ringing endorsement just ahead of a crucial shareholder vote after influential advisory firm Glass Lewis on Tuesday advised its clients to back all 12 of Agrium’s board nominees over a slate nominated by dissident investor Jana Partners. The recommendation from the well-regarded advisory firm is a big boost for Agrium ahead of a shareholder vote on April 9 and follows similar recommendations from smaller firms like U.S.-based Egan-Jones and UK-based Pensions Investment Research Consultants.

Alamos Gold Inc. has abandoned its hostile bid for Aurizon Mines Ltd. after a provincial regulator refused to strike down a controversial break fee from a rival offer. The move frees up Hecla Mining Co. to complete a friendly $796-million takeover of Aurizon, combining two companies focused on precious metals in North America. Last week, Alamos chief executive John McCluskey warned that he would drop his bid for Aurizon if the British Columbia Securities Commission did not cease-trade the $27.2-million break fee that Alamos would have to pay Hecla.

By Scott Matusow:30 minutes after the regular trading session closed yesterday, Obagi Medical Devices (OMPI) filed an 8k that officially removes the shareholders' rights provision, otherwise known as "the poison pill."From the 8k filed, we read the following: 10-Jul-2012

It seems that size, or lack thereof, is not a factor when one investor wants to initiate an action against a public company. In what is a rarity, two micro-cap companies, neither of which generate any revenue from operations, are waging a battle. But despite their lack of size, the language employed is reminiscent of that used by the big boys.

From trouble with securities regulators, to a failed high-stakes attempt to shake up the board at Wall Street giant JP Morgan Chase & Co. and a rising chorus of complaints they wield too much power — shareholder proxy firms appear to be under attack. Are these revered investor warriors losing their power to influence boardrooms and critical votes such as takeovers? Advisory firms meekly concede ‘maybe’, while the corporate community resoundingly says ‘no’. Securities watchdogs in the U.S.