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Stock Market & Financial Investment News

News Breaks
June 2, 2014
17:08 EDTDRIStarboard withdraws special meeting request in letter to Darden board
Starboard Value, one of the largest shareholders of Darden Restaurants, announced that it has delivered a private letter to the Board of Directors of the company withdrawing its Special Meeting request delivered to Darden's Corporate Secretary on April 22, regarding the company's proposed separation of Red Lobster. In the letter, Starboard reiterated its disbelief that the Board committed to an irreversible, poorly structured, and clearly value destructive sale of Red Lobster prior to the Special Meeting and without requiring shareholder approval despite a clear shareholder directive to call the Special Meeting. Starboard condemned the Board for rendering the Special Meeting moot by entering into a binding contract to sell Red Lobster that does not require shareholder approval. Starboard believes that there is still substantial value to be unlocked at Darden. Starboard believes that its time is therefore better spent on the remaining opportunities to enhance shareholder value. Starboard remains committed to replacing a majority of the Board by electing a more qualified and more objective board that will commit to fairly representing shareholders, while putting in place a turnaround plan for Darden that will create substantial value.
News For DRI From The Last 14 Days
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July 23, 2014
11:38 EDTDRIBrinker retreats after analyst downgrades on industry concerns
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July 16, 2014
18:26 EDTDRIOn The Fly: After Hours Movers
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July 15, 2014
13:20 EDTDRIStarboard sends letter to Darden board seeking new leadership
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July 11, 2014
06:34 EDTDRIDarden New York automatic tip suit granted dismissal, Reuters says
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