Autodesk Says Open For Dialogue With Starboard, Other Shareholders; Stock Up

(RTTNews) - Autodesk, Inc. (ADSK), Monday responded to the activist investor's allegations and said it is open for dialogue with shareholders, and would welcome inputs on business, including from Starboard Value LP.

The company declined Starboard's request to re-open a notice period stating that it would not be in the best interests of Autodesk or its shareholders.

Autodesk plans to hold the annual meeting as scheduled on July 16, 2024.

In a letter, Starboard had alleged that the design-software company's board members "manipulated the corporate machinery and perpetuated an entrenchment scheme by failing to disclose material malfeasance regarding the company's accounting and disclosure practices."

Currently, Autodesk's stock is climbing 5.64 percent, to $238.62 over the previous close of $225.87 on the Nasdaq.