Starboard Value and its affiliates has taken a 9.3% stake in fin tech company Green Dot Corporation (NASDAQ: GDOT).
Starboard included the following language in the "Purpose of Transaction" section of the 13D filing:
The Reporting Persons purchased the Shares based on the Reporting Persons’ belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity.
According to the 13D filing, Starboard's average purchase price thus far has been ~$26.4 per share.
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