Companies in highly regulated industries have historically been subjected to relatively few campaigns and demands from shareholder activists, primarily because any would-be activist seeking the support of its fellow shareholders would face the added challenge of needing to navigate a complex regulatory regime and potentially obtain regulatory approvals. In this article partner and co-chair of the global Shareholder Activism Group Ele Klein, M&A and Securities associate Brandon Gold and former Schulte lawyer Joseph Vitale discuss the barriers and opportunities for activist investors in regulated industries.