413 documents showing 181–240
Rogers Corporation ROG
Starboard's 6.5% stake in Rogers Corporation backs a board slate of specialty-materials veterans, arguing undervalued shares warrant fresh director expertise after the failed DuPont sale.
N2
V1
C1
The Walt Disney Company DIS
Disney's world-class IP is being squandered by a board that overpaid $52bn for Fox, bungled CEO succession, and is bleeding streaming losses — add Nelson Peltz to restore discipline.
N4
V3
C3
⌂
”
⚑
The Walt Disney Company DIS
Disney is in a self-inflicted crisis of governance, strategy and capital allocation; electing Nelson Peltz to the board will restore discipline, profitability and the dividend by FY 2025.
N4
V2
C2
⌂
The Walt Disney Company DIS
Disney's DTC pivot is working, but spinning ESPN, fully owning Hulu, cutting costs, and refreshing the board will unlock the next leg of value.
N3
V2
C1
Box, Inc. BOX
Box has chronically lagged peers and entrenched itself via an unnecessary $500M KKR preferred financing; electing Starboard's minority slate restores stockholder accountability and unlocks long-term value.
N4
V2
C1
”
⚑
Box, Inc. BOX
Box is a best-of-breed cloud content platform that has missed every revenue target since IPO; a reconstituted board can fix go-to-market execution and close a massive valuation gap to peers.
N4
V3
C3
⌂
◫
”
⇌
⚑
Box, Inc. BOX
Box's board issued $500m of KKR preferred to lock up >10% of the vote and entrench itself ahead of Starboard's proxy contest — Starboard demands the books and four new directors.
N3
V1
C1
⚑
Box, Inc. BOX
Box has underperformed cloud peers for years despite engagement, and the Board just cut a dilutive financing to 'buy the vote' — Starboard nominates four directors to force real transformation.
N3
V1
C1
⚑
Box, Inc. BOX
After a failed 2020 settlement, Starboard will nominate directors at Box's 2021 Annual Meeting, citing missed growth targets and a $500M convertible preferred it calls a 'buy the vote' scheme.
N3
V2
C1
Date
Fund
Target
Thesis
Scores
Mar 23, 2023
TCI Fund
Cellnex Telecom, S.A.
CLNX
Cellnex is a great asset hobbled by a board that botched CEO succession; TCI will move at the AGM to remove Kan, Shore and Reich and seat its own director.
N3
V2
Mar 22, 2023
Engine Capital
Parkland Corporation
PKI
Parkland's conglomerate mix of retail, refinery and distribution trades at a 3-turn discount to Couche-Tard; spin the non-core assets and refresh the stale board to unlock ~$45/share, roughly 55% upside.
N4
V2
Mar 08, 2023
Spruce Point Capital
Essential Utilities, Inc.
WTRG
WTRG's water roll-up is failing and its $4.3bn Peoples gas pivot is a Ponzi-like dividend trap; 35%-50% downside to $20-$28 on sum-of-parts.
N5
V3
Feb 22, 2023
Soroban
Union Pacific Corporation
UNP
UNP owns the best Class I rail franchise but ranks worst on every metric under CEO Lance Fritz; bringing back operator Jim Vena could double the stock to ~$400 by 2025.
N5
V4
Feb 20, 2023
TCI Fund
Airbus SE
AIR
TCI urges Airbus to abandon the 29.9% Evidian stake — a value-destructive, politically-motivated bailout of Atos that distracts management from fixing aircraft delivery shortfalls.
N4
V2
Feb 16, 2023
Wolfpack Research
Goosehead Insurance, Inc.
GSHD
Goosehead's top-tier growth story is collapsing: 67% first-year franchisee failure, 85-95% reliance on a frozen housing market, and $900M extracted by the CEO's family while shareholders netted $23M.
N4
V2
Feb 14, 2023
Wolfpack Research
B. Riley Financial, Inc.
RILY
RILY tacitly admitted it breached covenants on $455M of credit lines while a deteriorating loan book and an undisclosed insider — Daniel Asher — quietly props up its share register and dividend.
N4
V2
Feb 08, 2023
Ancora
Ritchie Bros. Auctioneers
RBA
Back the amended RBA-IAA merger: $350-900M of synergies, a Starboard/Ancora-refreshed board, and Luxor's anti-deal case is flawed — RBA should re-rate from $62 to ~$130.
N4
V3
Feb 07, 2023
Spruce Point Capital
Progyny, Inc.
PGNY
PGNY is a $3.1bn fertility-benefits manager run by ex-WebMD/Medical Manager executives whose marketing claims, treatment model and 2023 growth are disputable, implying 60%-80% downside to $7-$14.
N5
V3
Feb 06, 2023
Starboard Value
Rogers Corporation
ROG
Starboard's 6.5% stake in Rogers Corporation backs a board slate of specialty-materials veterans, arguing undervalued shares warrant fresh director expertise after the failed DuPont sale.
N2
V1
Jan 12, 2023
Trian Partners
The Walt Disney Company
DIS
Disney's world-class IP is being squandered by a board that overpaid $52bn for Fox, bungled CEO succession, and is bleeding streaming losses — add Nelson Peltz to restore discipline.
N4
V3
Jan 11, 2023
Trian Partners
The Walt Disney Company
DIS
Disney is in a self-inflicted crisis of governance, strategy and capital allocation; electing Nelson Peltz to the board will restore discipline, profitability and the dividend by FY 2025.
N4
V2
Dec 21, 2022
Oasis Management
Digital Garage Inc.
4819 JT
Digital Garage is missing Japan's cashless-payments wave; spinning off DG Financial Technology, divesting Kakaku, and refocusing management would nearly double the stock and lift profit before tax from JPY4.5bn to JPY11.4bn.
N4
V2
Dec 19, 2022
Palliser Capital
Capricorn Energy PLC
CNE
Capricorn's board is destroying value by forcing a low-ball NewMed sale; replacing seven directors unlocks up to 400p per share via Palliser's Value Optimisation Plan.
N4
V2
Nov 16, 2022
Muddy Waters
DLocal Ltd.
DLO
Muddy Waters is short DLO: contradictory TPV disclosures, implausibly high FX-driven take rates, governance failures and ~$1bn of insider selling point to likely fraud at the Uruguay-based payments processor.
N4
V2
Oct 27, 2022
Palliser Capital
Capricorn Energy
CNE
NewMed's all-share bid for Capricorn hands shareholders a 42% discount and a self-serving board deal; a cash-return plus Egypt-focused optimisation path unlocks 400p/share instead.
N5
V4
Aug 15, 2022
Third Point
The Walt Disney Company
DIS
Disney's DTC pivot is working, but spinning ESPN, fully owning Hulu, cutting costs, and refreshing the board will unlock the next leg of value.
N3
V2
Aug 09, 2022
Palliser Capital
Capricorn Energy PLC
CNE
Capricorn's board must withdraw its Tullow merger recommendation — a nil-premium takeover that hands Capricorn's cash to junk-rated creditors while standalone value of 330p offers 67% upside.
N4
V3
Jul 19, 2022
Spruce Point Capital
Skechers U.S.A., Inc.
SKX
Skechers is a governance-rotten, family-run 'fast follower' whose China growth is collapsing and inventory is bloating — 30%-50% downside to $18.60-$26.00.
N4
V3
Jun 22, 2022
Spruce Point Capital
Generac Holdings, Inc.
GNRC
Generac is a COVID-era generator beneficiary masking collapsing core demand and a string of shady clean-energy acquisitions; Spruce Point sees 40-50% downside to $110-$132/share.
N4
V3
May 17, 2022
Spruce Point Capital
Alpha Metallurgical Resources, Inc.
AMR
AMR masks production, revenues and liabilities while management quietly dumps stock at cyclical coal highs; Spruce Point sees 40-60% downside to $60-90 per share.
N5
V3
May 09, 2022
Starboard Value
LivePerson, Inc.
LPSN
Starboard owns 9.7% of LivePerson and is running a proxy fight to reconstitute the board and unseat founder-CEO Rob LoCascio, arguing toxic culture and weak governance have driven chronic underperformance.
N4
V2
May 09, 2022
Starboard Value
LivePerson, Inc.
LPSN
LivePerson's founder-CEO and entrenched Board have destroyed value through strategy drift and toxic culture; Starboard's proxy slate will reconstitute the Board and refocus the company.
N4
V3
May 01, 2022
Carl Icahn
McDonald's Corporation
MCD
McDonald's board broke a 10-year promise to end gestation crates; replace Penrose and Lenny with two ESG experts to fix systemic governance and sustainability failures.
N4
V3
Apr 26, 2022
Sachem Head
US Foods Holding Corp.
USFD
Sachem Head owns 8.7% of US Foods and is running a proxy fight to install five directors who can close the Sysco margin gap and deliver ~100% upside.
N4
V3
Apr 06, 2022
Spruce Point Capital
Stryker Corp.
SYK
Spruce Point exposes Stryker's FCPA-tainted accounting, failing acquisition roll-up and margin squeeze under CEO Lobo — Strong Sell with 35%-75% downside to $67-$174.50.
N4
V3
Mar 08, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman has misled shareholders for 15 years — missed EBITDA targets, destroyed Textile Effects, fire-sold Venator — while a legacy board shielded management; elect Starboard's nominees.
N4
V3
Mar 03, 2022
Starboard Value
Huntsman Corporation
HUN
Starboard is running a proxy fight for four Huntsman board seats, arguing a CEO-beholden board allowed 337% S&P underperformance and three missed Investor Day promises.
N5
V3
Mar 02, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman has serially missed its own Investor Day promises while an entrenched board shields management; elect Starboard's four independent chemical-industry nominees to restore accountability.
N4
V3
Feb 28, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman, led by the founding family for its entire history, has missed three consecutive investor-day targets and lags peer EBITDA margins by ~900bps; Starboard's four nominees can unlock ~600bps of margin expansion.
N5
V4
Feb 16, 2022
Spruce Point Capital
C3.ai, Inc.
AI
C3.ai is a serially rebranded, money-losing AI story-stock propped up by an unraveling Baker Hughes JV and aggressive accounting; Spruce Point sees 40-50% downside to $12.85-$15.40.
N5
V3
Feb 10, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman has chronically underperformed chemicals peers and missed three straight Investor Day targets; Starboard (8.6%) seeks four new directors to restore accountability and unlock value.
N4
V3
Feb 10, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman has underperformed peers by 575% since IPO and missed three straight Investor Day targets; elect four Starboard nominees on the BLUE card to restore board accountability.
N3
V2
Feb 03, 2022
Grizzly Research
Playtika Holding Corp.
PLTK
PLTK is a Chinese-insider piggy bank dumped on US public investors — debt-financed pre-IPO cash-out, addictive gambling-akin games facing regulators, and hidden share pledges imply ~45% downside.
N4
V3
Jan 13, 2022
Starboard Value
Mercury Systems, Inc.
MRCY
Starboard, a 7.33% owner of Mercury Systems, demands the board scrap the December 2021 poison pill or raise its 7.5% trigger to 15% and put it to a shareholder vote.
N2
V2
Jan 12, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman has missed every Investor Day target since 2014 and underperformed chemical peers by 330% since IPO; Starboard nominates four directors to force execution.
N4
V2
Jan 12, 2022
Starboard Value
Huntsman Corporation
HUN
Huntsman's decade of missed EBITDA targets and defensive governance demand Board change; Starboard nominates four directors to restore accountability and close the chronic peer-valuation discount.
N4
V2
Dec 09, 2021
Spruce Point Capital
Nuvei Corp
NVEI
Nuvei is a thrice-rebranded payments roll-up run by executives tied to Ponzi schemes, fraud and adult-industry operators; peer-multiple re-rating implies 40-60% downside to $39-$58.
N5
V4
Oct 26, 2021
Oasis Management
Hokuetsu Corporation
3865
Hokuetsu's 13-year CEO resists change as its paper business declines; selling Daio Paper cross-holdings and pivoting to biomass power can quadruple market cap to ¥533.9bn.
N3
V1
Oct 25, 2021
Spruce Point Capital
Heska Corporation
HSKA
Heska is a low-growth animal-health distributor — not the innovator management claims — masquerading at a 9x-sales SaaS multiple; Spruce Point sees 50-60% downside to $90-$115.
N4
V3
Oct 06, 2021
Bonitas Research
TMC the metals company Inc.
TMC
TMC is a recycled Nautilus Minerals fraud: $43M siphoned to insiders for worthless seabed licenses, inflated expenses, and a TOML permit at risk of ISA termination.
N4
V2
Aug 31, 2021
TCI Fund
Canadian National Railway
CNI
CN, once the best-run Class I railroad, is now the worst under CEO Ruest; abandon the KCS deal and install Jim Vena to restore operational excellence.
N4
V3
Aug 16, 2021
Starboard Value
Box, Inc.
BOX
Box has chronically lagged peers and entrenched itself via an unnecessary $500M KKR preferred financing; electing Starboard's minority slate restores stockholder accountability and unlocks long-term value.
N4
V2
Aug 06, 2021
Starboard Value
Box, Inc.
BOX
Box is a best-of-breed cloud content platform that has missed every revenue target since IPO; a reconstituted board can fix go-to-market execution and close a massive valuation gap to peers.
N4
V3
Jul 14, 2021
Spruce Point Capital
Oatly Group AB
OTLY
Oatly is an over-hyped oat-milk fad with accounting overstatements, hidden management scandals and a $12bn valuation pricing in 57% market share — 30-70% downside.
N5
V3
May 20, 2021
Starboard Value
Box, Inc.
BOX
Box's board issued $500m of KKR preferred to lock up >10% of the vote and entrench itself ahead of Starboard's proxy contest — Starboard demands the books and four new directors.
N3
V1
May 10, 2021
Starboard Value
Box, Inc.
BOX
Box has underperformed cloud peers for years despite engagement, and the Board just cut a dilutive financing to 'buy the vote' — Starboard nominates four directors to force real transformation.
N3
V1
May 03, 2021
Starboard Value
Box, Inc.
BOX
After a failed 2020 settlement, Starboard will nominate directors at Box's 2021 Annual Meeting, citing missed growth targets and a $500M convertible preferred it calls a 'buy the vote' scheme.
N3
V2
May 01, 2021
Land & Buildings
Hilton Grand Vacations
HGV
HGV is overpaying 10x EBITDA for Diamond and handing Apollo effective control with no premium; standalone HGV is worth $55 — shareholders should vote AGAINST.
N4
V3
Apr 22, 2021
Spruce Point Capital
Danimer Scientific, Inc.
DNMR
Danimer is an over-hyped SPAC bioplastics story whose governance-tainted management, irreconcilable facility claims, failed-PHA precedent, and 138x EBITDA valuation imply 65-100% downside to ~$8.75/share.
N4
V3
Feb 16, 2021
Spruce Point Capital
Leidos Holdings, Inc.
LDOS
Leidos is concealing defective explosive-detection products from its impaired $1bn L3Harris SD&A deal while inflating cash flow 67-78%; sell with 35-60% downside to $43-$70.
N4
V3
Feb 16, 2021
Ancora
Forward Air Corporation
FWRD
Forward Air's acquisition-led growth strategy has decimated its core LTL margins; Ancora's nominees will restore operating discipline and unlock ~50% upside to $130-$135/share.
N4
V2
Jan 21, 2021
Starboard Value
Corteva, Inc.
CTVA
Corteva's spin-off potential is squandered by CEO Jim Collins and a complacent Board; Starboard nominates eight directors to force leadership change and unlock operating value.
N3
V2
Nov 10, 2020
Spruce Point Capital
Avery Dennison Corporation
AVY
Avery Dennison masks structural decline with restructuring add-backs and inflated Adjusted EBITDA/FCF; normalized for accounting manipulation, AVY is worth $68-99/share — 35-55% downside.
N5
V4
Nov 05, 2020
Trian Partners
Invesco Ltd.
IVZ
Trian is now Invesco's second-largest shareholder with ~9.9% of common stock
N2
V2
Sep 22, 2020
Land & Buildings
Apartment Investment and Management Company
AIV
AIV's proposed taxable reverse spin-off won't close its 18% NAV discount and lets Considine duck 25 years of underperformance; demand a shareholder vote or explore a sale at $58 — 75% upside.
N3
V2
Aug 18, 2020
Spruce Point Capital
GFL Environmental Inc.
GFL
Spruce Point argues GFL Environmental is a 'terminal zero': a Canadian waste roll-up mimicking the Philip Services fraud playbook, with understated debt, CEO ties to organized crime, and 100% downside.
N5
V3
Jul 06, 2020
Elliott Management
Crown Castle International
CCI
Crown Castle's $16bn fiber bet earns just 3% ROI; imposing a 40% capex-ROI target, ROIC-linked pay, and a Board refresh unlocks a 46% dividend hike to $7.00.
N5
V4
Jun 30, 2020
Spruce Point Capital
Prestige Consumer Healthcare Inc.
PBH
Spruce Point is short Prestige Brands: a decaying OTC roll-up with no organic growth, CFO déjà-vu from Boulder Brands' collapse, and 40-60% downside to $14.80-$22.50.
N4
V3
May 12, 2020
Elliott Management
Alexion Pharmaceuticals, Inc.
ALXN
Alexion's stand-alone strategy has failed — serial M&A missteps and a deep valuation discount mean the Board must pursue a sale now to unlock 40-50% upside for shareholders.
N5
V3