The parent company of Olive Garden, Longhorn Steakhouse and other fast casual dining chains delayed its annual shareholder meeting amid allegations it was giving different information out to different classes of investors regarding the sale of Red Lobster. Activist investor Starboard Capital isn’t happy with the move.
Bill Ackman likes to position himself as making investments that are “good for America,” and while he admits that some of his 30 activist campaigns have cost jobs, he believes he is ultimately a job creator.
Osmium Partners, which just unseated the CEO and took control of the board of Spark Networks, the parent company of JDate.com and ChristianMingle.com, now holds a 10% stake in Rosetta Stone.
Hedge fund Jana Partners, which has been pushing for a sale of the pet supply company citing poor financial performance in the last year, received anonymous documents that appear to have persuaded PetSmart into considering a deal. Competitor Petco or a private equity firm is looking to bid on the company.
Both powerhouse investors made big bets on Verizon in the first quarter, but Loeb has since sold out of his position in the telecommunications company while Buffett has added nearly 4 million shares to his stake.
Spark Networks announced today its president and CEO Greg Liberman would step down after 10 years with the online dating company. The move comes one month after a hedge fund took control of the company.
Eminence Capital disclosed Monday it had taken a 9.6% stake in World Wrestling Entertainment. Eminence last year waged a successful activist campaign to merge Men’s Wearhouse and JoS. A. Bank.
A new database has tracked the biggest winners and losers in activist short-selling. Pershing Square’s Bill Ackman, despite Herbalife, is one of the best; David Einhorn of Greenlight Capital, isn’t.
On the company’s second-quarter earnings call, CEO Jeff Bewkes acknowledged that HBO GO has stiff competition in Netflix — and that the former will likely take a page from Netflix’s book in the future.
A lame duck CEO, a swift sale of Red Lobster without shareholder approval, and two hedge funds out for the entire board should make the Darden annual meeting in Orlando next month quite the spectacle. So. Much. Drama.
The hedge fund titan’s Pershing Square Capital is set to conduct an IPO later this year, but industry insiders are worried Ackman is sabotaging its potential success with his increasingly bizarre public behavior.
During the company’s second quarter earnings call, CEO Michael Johnson defended Herbalife’s earnings miss and recent hiring of a government affairs official by sharing his grand vision for its future. The comments come a week after Bill Ackman’s Herbalife presentation in New York at which he vehemently insisted the company was a giant pyramid scheme.
Darden Restaurants announced late Monday that CEO Clarence Otis will be stepping down after 10 years with the fast casual dining giant. His departure follows the company’s sale of Red Lobster to private equity firm Golden Gate Capital.
Engaged Capital has taken a 7% stake in Jamba Juice, which it believes is struggling to quell money losses from investments in “non-core” products, a tepid international response, and a failing New York City strategy.
Today, billionaire hedge fund manager Bill Ackman of Pershing Square Capital gave a three-and-a-half-hour presentation about Herbalife, the company he has a $1 billion short position in, and which he’s spent $50 million to date trying to take down. Things got…weird.
On the heels of Time Warner’s rejection of an unsolicited takeover bid from Rupert Murdoch’s 21st Century Fox, here’s a look at how companies politely tell potential buyers to get lost.
Entitled Wives, hidden assets, who gets the big house and other common themes in hedge fund divorces.
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
The luxury vehicle group sold more cars in this year’s first six months than any other half-year period in its history, breaking the 1 million mark with a nearly 7% year-over-year sales increase.
Osmium Partners has successfully removed four members of the Spark Networks board after a contentious battle.