Investing.com – Activist investor Starboard Value has acquired a stake in the design software maker worth about $500 million. 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 recent weeks to express its concerns and propose changes, including increasing profits, making changes to the board of directors and managing a recent accounting investigation that has negatively impacted the stock.
Starboard criticized Autodesk for not disclosing the investigation and other major news until after the deadline for shareholders to nominate director candidates had passed in late March.
The investor is reportedly considering filing a lawsuit to reopen Autodesk’s director nomination process and reschedule the company’s annual shareholder meeting, currently scheduled for July 16.
Autodesk did not immediately respond to requests for comment.