In mid-March, Rubric Capital Management, which owns about 9.1% of Xperi Inc.’s outstanding shares, called for a shakeup of the DTS AutoStage, HD Radio and TiVo parent’s board of directors. The shareholder criticized the company for a “history of underperformance, poor decision making and reckless capital allocation.”
A choice was presented to the company’s shareholders at its annual shareholders meeting, and preliminary results were shared on Friday. The result? Rubric’s revolt has fallen short.
