Starboard Seeks Special Meeting To Block Red Lobster Sale

Law360, New York (March 20, 2014, 7:59 PM EDT) -- Undeterred by Darden Restaurants Inc.'s reproaches, Starboard Value LP filed papers on Thursday to call a special shareholder meeting and block Darden from spinning off or selling its Red Lobster brand until that meeting can happen.

In a definitive filing with the U.S. Securities and Exchange Commission, Starboard called for shareholders to band together in support of the meeting, where Starboard intends to lobby for a nonbinding resolution asking Florida-based Darden to postpone any Red Lobster plans until after the 2014 annual shareholder meeting, according to...
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