Starboard claims Darden won't let it look at its books in complaint filed in Florida court
SEAFOODNEWS.COM [The Wall Street Journal] by Joshua Jamerson - July 25, 2014
New York-based investment adviser Starboard Value LP has filed a complaint against Darden Restaurants Inc. in a Florida circuit court, attempting to gain access to the company's books in their continuing dispute over the future of the restaurant company's brands.
Starboard alleges in the complaint that Darden's board, after "months of maneuvers" to thwart shareholders from exercising a voice in corporate affairs, has refused to provide it with access to the books and records it requested in June.
Darden's board completed its decision to sell Red Lobster in May, defying the demands of activist investors, including Starboard and Barington Capital Group LP. Starboard, which holds a 7.1% stake in the company...
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