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DepoMed’s stock soars on heavy volume after Starboard discloses stake

DepoMed Inc.’s stock soared 18% in active trade Friday, after hedge fund Starboard Value disclosed a large stake in the drug maker, and said it would push for actions to boost shareholder value. Volume approached 4 million shares within the first 20 minutes of trade, or already almost double the full-day average. DepoMed responded to Starboard on Friday, saying it welcomes communications with its shareholders. The company said, however, that Starboard didn’t try to hold discussion with the company before it the filing late Thursday that disclosed Starboard’s new stake.

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DepoMed’s stock soars on heavy volume after Starboard discloses stake Reviewed by on . DepoMed Inc.'s stock soared 18% in active trade Friday, after hedge fund Starboard Value disclosed a large stake in the drug maker, and said it would push for a DepoMed Inc.'s stock soared 18% in active trade Friday, after hedge fund Starboard Value disclosed a large stake in the drug maker, and said it would push for a Rating:
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