Office Depot’s top investor sues it for not holding a shareholder meeting

On the eve of the company’s proposed merger with Office Max, Starboard Value LP says it must elect directors

On the eve of Office Depot Inc.’s proposed merger with little brother Office Max Inc., Office Depot’s top investor sued it for not holding its annual shareholder meeting.

Starboard Value LP sued the office supply retailer on Thursday in Delaware’s Court of Chancery, accusing it of not holding a shareholder meeting for 13 months. The investor is presumably miffed because it claims Office Depot needs to restructure its board, whether or not the merger goes forward, and it has nominated six potential members for the 10-member board, including Robert Nardelli, the former CEO of Home Depot.

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