Reuters first to report Box shareholders re-elect company directors; Starboard fails to win any seats - Reuters News Agency
Business & Finance

Reuters first to report Box shareholders re-elect company directors; Starboard fails to win any seats

Box Inc shares dropped as much as 7% after Reuters was first to report that the U.S. cloud services provider’s shareholders backed all three board directors that hedge fund Starboard Value LP was challenging. The vote was a blow to Starboard, which criticized Box anew this year after having settled with the company last year. Starboard, which owns an 8.4% stake in Box, has not lost a proxy vote in nearly a decade since falling to AOL in 2012.

Market Impact

Box Inc shares dropped as much as 7%.



Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
FILE PHOTO: Jeffrey Smith, CEO of Starboard Value LP, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid/File Photo
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