Darden shareholder sues board, citing CNBC.com report
An institutional investor that had been on the sidelines in the struggle between Darden and Starboard Value says in a newly filed lawsuit that Red Lobster was dumped at a fire-sale price. The assertion could help Starboard seize control of Darden.
Darden loses control
Starboard Value succeeded in sweeping out the Olive Garden parent’s whole board, signaling dramatic strategic redirections for one of casual dining’s biggest players.