Starboard reports 11.5% stake in Acacia Research

Starboard purchased the securities based on the belief that they were "undervalued and represented an attractive investment opportunity." The filing allows for activism. On October 30, Starboard Value LP and certain of its affiliates entered into a Recapitalization Agreement with Acacia Research, pursuant to which, among other things, Starboard and the company agreed to enter into a series of transactions to restructure Starboard’s existing investments in it.