Tessera Leadership Shakeup Is Too Late, Hedge Fund Says

Law360, New York (April 1, 2013, 2:38 PM EDT) -- Activist hedge fund Starboard Value LP urged Tessera Technologies Inc. shareholders to ignore the company's recent backpedaling, including the ouster of its CEO and chairman, saying the company is simply trying to head off a proxy fight with Starboard at its upcoming annual meeting.

Last month, the chip maker announced a plan to replace Chairman Robert Boehlke, CEO Robert Young and a third director, Anthony Tether, and began a search for Young's replacement. It also offered to add three independent director seats and sell its camera...
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