Investing.com – Activist investor Starboard Value has acquired a stake of approximately $500 million in design-software manufacturer Autodesk Inc (NASDAQ:) and is now advocating for changes within the company, according to the Wall Street Journal.
Starboard has reportedly held meetings with Autodesk executives in the past few weeks to express their concerns and suggest changes, including enhancing its margins, implementing changes to its board and the management of a recent accounting investigation that negatively impacted the stock.
Starboard criticized Autodesk for failing to disclose the investigation and other significant updates until after the deadline for shareholders to nominate director candidates had passed in late March.
The investor is reportedly contemplating legal action to request the reopening of Autodesk’s director nomination window and to postpone the company’s annual shareholder meeting, which is currently scheduled for July 16.
Autodesk has not yet responded to requests for comments.