Proxy Adviser Glass, Lewis and Co. has backed Sotheby’s Board Nominations in the wake of Daniel Loeb’s continued pressure on the company.  “In this case, we believe the Dissident has identified certain areas of concern,” the company says in a statement, “but ultimately has fallen short of making a compelling case that additional changes in the boardroom are warranted at this time beyond those already implemented by the Company.” (more…)

Another letter from Third Point’s Daniel Loeb attacks Sotheby’s for failing to acknowledge the strength of his choices for board seats at the auction house.  “We are convinced that having an owner’s perspective in the boardroom yields better results, that this board is in dire need of fresh insights, and that our candidates are more qualified than the company’s emissaries we are seeking to replace,” Loeb writes. (more…)

The ongoing struggle for control at Sotheby’s has taken a new turn, with the auction house rejecting the board nominations proposed by Daniel Loeb’s Third Point LLC, and in turn naming Jessica Bibliowicz and Kevin Conroy for board seats. “The composition of your Board is something Sotheby’s takes very seriously, as the experience and expertise of its directors have been and will continue to be important to enabling the Company’s success,” the company said in an open letter to shareholders. (more…)

In what may be a response to internal pressures, Sotheby’s Auction House has announced a dividend for the Fourth Quarter of 2013 of $.10 per share, payable on December 16th to shareholders of record.  The auction house announced the dividend early this week. (more…)