Activist Client Starboard Discloses 15.9% Stake & Intention to Seek Board Seats at Quantum Corporation
Forbes and The Deal Magazine reported on Starboard Value’s recently disclosed 15.9% investment stake in Quantum Corporation, a data storage and protection company. In a Schedule 13D filing, Starboard disclosed its intention to discuss with Quantum certain actions that, if taken, Starboard believes can dramatically increase profitability and unlock value for shareholders. Starboard also disclosed its intention to discuss and seek Board representation. Steve Wolosky and Andrew M. Freedman represent Starboard Value in connection with its activist engagement at Quantum.