Form SC 13D DEPOMED INC Filed by: Starboard Value LP
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Depomed (DEPO) Comments on Starboard Value Stake; Recommends Shareholders Take no Action
April 8, 2016 9:07 AM EDTDepomed, Inc. (Nasdaq: DEPO) issued the following statement in response to the Schedule 13D filed April 7 with the Securities and Exchange Commission by Starboard Value LP:
Depomed welcomes open communications with its shareholders and values constructive input toward... More
Depomed (DEPO) Attracts Activists - Mizuho
April 8, 2016 6:54 AM EDTMizuho analyst, Irina Koffler, noted that activist fund, Starboard Value, has disclosed a 6.8% stake in DepoMed Inc (NASDAQ: DEPO) (but has economic exposure to 9.8% of the outstanding shares). In its 13-D filing, Starboard makes a number of allegations, including: 1) Depomed has serious corporate governance deficiencies; 2) its Board took egregious actions to impede strategic interest from acquiring the company; 3)... More
Starboard Value LP Shows New 9.8% Stake in DepoMed, Inc. (DEPO); Seeks to Replace Directors
April 7, 2016 5:41 PM EDTIn a 13D filing on DepoMed, Inc. (NASDAQ: DEPO), hedge fund Starboard Value LP disclosed a 9.8%, or 5,965,000 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending March 31, 2016. The firm expressed significant concerns regarding serious corporate governance deficiencies, questionable capital allocation decisions, and egregious actions taken by the Issuers Board to impede strategic interest in acquiring the Issuer and to suppress shareholder rights and seeks to elect a slate of directors.
From the filing:
Item 4. Purpose of Transaction.
... More
Starboard Value files 13D on Depomed (DEPO)
April 7, 2016 5:34 PM EDTStarboard Value files 13D on Depomed (NASDAQ: DEPO)
