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Starboard takes stake in comScore, and sues over lack of meetings

Published 07/26/2017, 12:40 PM
© Reuters.  Starboard takes stake in comScore, and sues over lack of meetings
SCOR
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  • Starboard Value and its activist leader Jeff Smith have taken a stake in measurement firm comScore (NASDAQ:SCOR), and sued the company to force an annual meeting.
  • With a 4.9% stake, Starboard becomes one of the biggest holders in the troubled company, which has failed to provide audited statements for 2015 and 2016 and shed executives along the way.
  • It's taking action in Delaware court to force meetings, which it says are required by comScore's own corporate rules.
  • With the company skipping annual meetings, only four of the 12 sitting directors were elected by stockholders, Starboard says. “The court should not permit [comScore] to stall corporate democracy any longer.”
  • Shares rose into the close to finish up 2% yesterday, and are down 0.4% so far today.
  • Now read: Warren Buffett Stocks In Focus: Moody's


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