Investing.com – Activist investor Starboard Value has acquired an approximately $500 million stake in the design software maker Autodesk Inc (NASDAQ:) and is now calling for changes within the company, according to the Wall Street Journal.
Starboard has reportedly met with Autodesk executives in recent weeks to express concerns and propose changes, including improving margins, making governance changes and managing a recent accounting investigation that negatively impacted had on the shares.
Starboard criticized Autodesk for not making the investigation and other important updates public until after the deadline for shareholders to nominate director candidates had passed at the end of March.
The investor is reportedly considering legal action to request the reopening of Autodesk’s director nomination period and to postpone the company’s annual shareholder meeting, currently scheduled for July 16.
Autodesk has not yet responded to requests for comment.
