Investing.com – Activist investor Starboard Value has taken a roughly $500 million stake in the design software maker Autodesk Corporation (NASDAQ:) is now calling for changes within the company, according to the Wall Street Journal.
Starboard has reportedly held meetings with Autodesk executives in the past few weeks to express their concerns and suggest changes, including boosting its margins, implementing changes to its board of directors and managing the recent accounting investigation that has negatively impacted the stock.
Starboard criticized Autodesk for failing to disclose the investigation and other important updates until after a deadline for shareholders to nominate director nominees expired in late March.
The investor is reportedly considering legal action to request the reopening of Autodesk's director nomination window and postpone the company's annual shareholder meeting, currently scheduled for July 16.
Autodesk has not yet responded to requests for comment.