Activist investor Starboard takes new position in Shake Shack, Bloomberg News reports
Reuters2026/08/05 16:37Adds shares in paragraph 2 and disclosure in paragraph 4
Aug 5 (Reuters) - Activist investor Starboard Value has built a new stake in Shake Shack SHAK.N, Bloomberg News reported on Wednesday, citing the hedge fund's CEO Jeff Smith.
Shares of the company rose 11% in afternoon trading.
Starboard has a position of several hundred million dollars in Shake Shack, Smith said in an interview on Bloomberg TV.
Starboard and Shake Shack did not immediately respond to Reuters request for comment.
(Reporting by Koyena Das in Bengaluru; Editing by Shailesh Kuber)
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