Unfortunately for said CEO and his cohorts on the board, Loeb took seriously all of that flattery they whispered in his ear when he was lining their pockets with commissions.
Last week, Sotheby’s defended itself against the activist investor Daniel S. Loeb by questioning both his strategy and — perhaps just as galling to him — his credentials in the art world.
On Monday, Mr. Loeb sought to rebut criticisms of both….
Third Point also devoted an entire page to what it called “misleading” attacks by the auction house, including questions about Mr. Loeb’s experience in the art world. Here’s what the hedge fund wrote about its founder’s experience:
In the art/auction and luxury spaces, Mr. Loeb is a leading collector of modern and contemporary art, has been recognized by ARTNews as one of the “200 Top Collectors” each year since 2005, has had portions of his personal collection exhibited at the MoMA in New York and in other global museum retrospectives and shows, and is a trustee of the MOCA in Los Angeles.