Schulte is representing Greenlight Capital Inc. in connection with a proxy campaign at General Motors Co. to change the company’s capital structure. Greenlight has proposed a plan that would split GM’s common stock into two classes: the dividend shares, which receive current dividends, and the capital appreciation shares, which would participate in the remaining earnings and cash flows. Greenlight believes the plan will unlock between $13 billion and $38 billion of shareholder value.
Schulte partners and co-chairs of the firm’s global Shareholder Activism Group Marc Weingarten and Eleazer Klein represent Greenlight.