date:Apr 02, 2014
t the special meeting is necessary because Darden appears intent on completing the Red Lobster separation prior to the 2014 annual meeting of shareholders, when all directors are up for election, the investor group said in a statement.
Specifically, Starboard said Darden is attempting to spin off Red Lobster when store traffic, same-store sales and margins are the worst they have been in years. The group also noted Darden does not need to spin off the platform in order to make changes.
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