Phil Falcone Hangs Onto HC2 Board Seat in Activist Battle

The company’s stock tanked on the news that activists lost their push to oust the controversial executive.

Philip Falcone (Christopher Goodney/Bloomberg)

Philip Falcone

(Christopher Goodney/Bloomberg)

Embattled former billionaire Phil Falcone has managed to hold onto his board seat at HC2 Holdings, the struggling company he built and runs.

In a settlement announced Thursday, Falcone fended off first-time activist Michael Gorzynski, who had waged a bitter proxy battle over control of the company.


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