Activist fund Starboard Value, led by Jeff Smith, has acquired a large stake in graphics-design firm Autodesk, worth around $500 million. The fund has expressed concerns to the company's board over issues related to an internal investigation that resulted in the removal of the CFO. It was found that executives had misled investors about free cash flow metrics and operating margins by manipulating reporting on the company's contract billing structure. Starboard is particularly troubled by the timing of Autodesk's disclosure of the investigation, fearing that shareholders were intentionally kept in the dark ahead of the annual meeting. Starboard is considering legal action to reopen the nominating window and delay the meeting. The activist also sees potential for margin improvement and better investor communications to boost Autodesk's stock. This development follows Starboard’s history of investments in major technology companies like Salesforce and Splunk.