Reported 8 months ago
Activist investor Starboard Value disclosed a more than $500 million stake in Autodesk and sued the design software maker to delay its annual meeting after an accounting probe hit its shares. The lawsuit seeks to delay the annual meeting, reopen the director nomination window, and raises concerns over Autodesk's accounting and disclosure practices. Autodesk closed 6.5% higher, shares have fallen 7% this year, and the investigation into accounting practices began in March.
Source: YAHOO