09:48 AM EDT, 06/17/2024 (MT Newswires) -- Autodesk ( ADSK ) shareholder Starboard Value said Monday that it plans to sue Autodesk ( ADSK ) and its board for allegedly failing to disclose material accounting and disclosure issues.

The lawsuit will seek to delay Autodesk's ( ADSK ) 2024 annual meeting, which is scheduled for July 16, and reopen the nomination window for the company's board.

Starboard Value, which said it owns more than $500 million worth of Autodesk ( ADSK ) stock, sent a letter to other shareholders Monday saying that Autodesk ( ADSK ) has underperformed from an operational and financial standpoint.

"We have significant concerns with the company's operations, governance, oversight, and accountability to shareholders, given its lengthy history of missed commitments and underperformance from an operational and financial perspective," Starboard said in its letter.

Autodesk ( ADSK ) did not immediately respond to a request for comment from MT Newswires.

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