HomeAbout

TL;DR CNBC


Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure - TL;DR CNBC

Activist Starboard amasses Autodesk stake, weighs suit over delayed probe disclosure

Publishing timestamp: 2024-06-17 08:57:23


Summary

Activist investor Starboard Value has a $500 million stake in software maker Autodesk and is considering legal action over the company's delayed disclosure of an internal investigation into accounting malfeasance. The investigation found that executives manipulated billing structure to inflate free cash flow and operating margin numbers. Starboard is concerned about the timing of the disclosure and is considering legal action to compel reopening of Autodesk's nominating window and delay of its annual meeting.


Sentiment: NEGATIVE

Tickers: ADSK

Keywords: breaking news: marketsmarketsbreaking newstechnologybusiness newsautodesk incbreaking news: technology

Source: https://www.cnbc.com/2024/06/17/autodesk-adsk-starboard-activist-probe-sec-lawsuit.html


Developed by Leo Phan