Hedge Fund Sues Reston Company: Report

RESTON, VA — A Reston-based company has been sued by a New York hedge fund that bought shares in the firm and now wants to force leadership to hold an annual meeting.

Starboard Value, a hedge fund with a "reputation for boardroom activism," bought a 4.9 percent stake in Reston-based comScore, and now is suing in an attempt to nominate its own board members to the company, according to a Washington Business Journal report.

Starboard Value reportedly filed suit in a Delaware court in July, saying that comScore needs to hold its first investors meeting in more than two years and arguing that the company isn't following its corporate rules.

ComScore's inability to file required financial documents and annual reports with the Securities and Exchange Commission reportedly got it delisted from the Nasdaq exchange earlier this year.

ComScore, located at 11950 Democracy Drive in Reston Town Center, "helps clients measure what matters to make cross-platform audiences and advertising more valuable," the company says on its website.

Image via comScore