Starboard Loses Bid to Block Autodesk Director Vote in July (1)

Starboard Value lost a legal fight to block Autodesk Inc. from holding a board vote next month, which may mean the activist investor won’t be able to run its own candidates to replace directors following an accounting probe at the software company.

Delaware Chancery Court Judge <-bsp-person state="{"_id":"00000190-37f5-d497-a7fb-fffd27730000","_type":"00000160-6f41-dae1-adf0-6ff519590003"}">Paul Fioravanti concluded Thursday that Starboard couldn’t show it would be irreparably harmed if the vote went forward without its candidates. Autodesk argued Starboard, which holds a <-bsp-bb-link state="{"bbDocId":"SF8A9GT0G1KW","_id":"00000190-37f5-d497-a7fb-fffd27730001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">$500 million stake, missed a March deadline for nominating board candidates.

The ruling sets the stage for a legal battle over Starboard’s claim that Autodesk executives ...