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Sotheby's and the $16 Million, Anti-Dan Loeb Proxy Battle

Loeb in January at the World Economic Forum in Davos, Switzerland
Loeb in January at the World Economic Forum in Davos, SwitzerlandPhotograph by Simon Dawson/Bloomberg

Activist investor Daniel Loeb has finally muscled his way onto the Sotheby’s board along with two allies. The company saluted him this morning, publicly and testily.

Its earnings report boiled down to this: