Activist investor Starboard Value LP has built a stake in U.S. data protection and data management software company Commvault, saying in a regulatory filing that it felt the shares were undervalued when it purchased them.
FILE PHOTO: Jeffrey Smith, CEO of Starboard Value LP and Chairman of Papa John's International Inc., speaks during an interview on CNBC on the floor of the New York Stock Exchange in New York, U.S., March 22, 2019. REUTERS/Brendan McDermid
The hedge fund began buying forward contracts in February and bought common stock this month, according to the regulatory filing. Starboard is best known for having replaced the entire board at Darden Restaurants Inc, the parent of Olive Garden, six years ago.
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