CWA President Chris Shelton sent a letter to AT&T’s CEO and board this week, and to the company’s 100 largest investors, urging them to reject Elliott Management’s proposals. CWA’s analysis shows no evidence that Elliott’s strategies have created long-term value for other companies. Hess and Roadrunner, for example, have both significantly underperformed the S&P 500 since Elliott became involved in similar scenarios.
