Key Summary: Sidus Investment Management and BLR Partners (4.6%) sought board seats at Acacia, echoing governance and value concerns. Glass Lewis and ISS endorsed their candidates. Shareholders strongly backed them at the 2018 Annual Meeting. On February 13, 2024, Ajay Sundar of Starboard Value LP (61.2%) joined as a director, while Jonathan Sagal resigned.Market Cap: $434 million | Acacia Research Corporation by partnering with patent owners, invests in, develops, licenses, and enforces patented technologies in the United States.
On February 13, 2024, Ajay Sundar, Managing Director at Starboard Value LP (61.2%), was appointed as a director of the company to serve until the 2024 annual meeting of stockholders and until his successor is duly elected and qualified. In addition, Jonathan Sagal (Partner at Starboard ) resigned as a director of the company, effective February 13, 2024. Source
Past
Sidus Investment Management and BLR Partners (4.6%) sought board representation at Acacia. They highlighted concerns about governance, leadership, and value destruction. Glass Lewis and ISS recommended their nominees. Ultimately, shareholders overwhelmingly supported their candidates at the 2018 Annual Meeting.
Comentarios