Nelson Mullins Riley & Scarborough partner Rusty Pickering in Atlanta advised a Chicago hedge fund on its proxy battle for control of the board of apartment developer Post Properties Inc. Skadden, Arps, Slate, Meagher & Flom partner Daniel E. Stoller in New York advised Post. 
Last week, Atlanta-based Post Properties said it reached an agreement with Pentwater Capital Management LP to support the nomination of Chicago real estate investor David R. Schwartz as director. Post and Pentwater also agreed to nominate another director who has yet to be named. Pentwater also said it would vote for the eight incumbent Post directors up for re-election this year. Previously, Pentwater had sought to replace five Post directors. One of the incumbent Post directors up for re-election is King & Spalding senior counsel Herschel M. Bloom.
In January, Pentwater launched the proxy battle in an attempt to force Post to put itself up for sale. In response, Post said it was doing just that. But on June 25, Post said it was dropping its attempt to find a buyer, citing an “increasingly difficult market environment.”