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.