Starboard Vows To Keep Up Proxy Fight Despite Tessera Offer

Law360, New York (May 7, 2013, 5:44 PM EDT) -- In its first communication with Tessera Technologies Inc. shareholders since the company offered to cede a pair of board seats to avoid a proxy contest, activist hedge fund Starboard Value LP on Tuesday slammed the company's board as "desperate" and vowed to keep up its fight.

Also in the letter, Starboard took shareholders through a laundry list of Tessera’s beefs with its proposed shakeup plan, saying the chip maker has tried to fool investors by painting the hedge fund’s turnaround strategy as ill-conceived and inferior to...
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