Activist Client Starboard Seeks to Call Special Meeting of Darden Restaurants Shareholders Over Proposed Red Lobster Spin-Off
February 24, 2014
The Wall Street Journal, The New York Times, Reuters and other national media reported on Starboard’s announcement that it has filed a Preliminary Solicitation Statement with the SEC seeking shareholder support to call a Special Meeting of Darden shareholders. The news comes as Starboard, which owns a 5.5 percent stake in Darden, has been urging the largest U.S. full-service restaurant operator to delay plans to spin off Red Lobster and instead explore all strategic alternatives to maximize shareholder value. Steve Wolosky, Andrew Freedman, Meagan Reda and Ryan Nebel represent Starboard in connection with its activist investment at Darden Restaurants.