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0.00362748001184469 0.0027391175599645 0.000740302043233597 0.00399763103346159 0.0039236008291383 0.00125851347349709 -0.0122890139176784 -0.0213206988451288
Stock impact report

A decade after Campbell's Soup, Dan Loeb's Third Point is back [Yahoo! Finance]

CoStar Group, Inc. (CSGP) 
Last costar group, inc. earnings: 4/28 04:02 pm Check Earnings Report
US:NASDAQ Investor Relations: costargroup.com/investors/stock-info
Company Research Source: Yahoo! Finance
Now, the billionaire activist investor is ready to mount another campaign, at a real estate giant he says has badly lost its way. Loeb alleges that the “anemic performance” at CoStar Group , the $30 billion company behind Homes.com and a suite of commercial real estate products, “can be ascribed entirely to the misallocation of billions of dollars” into its residential expansion. Loeb reserved particular vitriol for CoStar CEO Andy Florance. “Like an elementary school child who wins a prize even for finishing last, Mr. Florance's bonuses are perhaps the costliest ‘Participation Award' our firm has witnessed,” Loeb wrote in a blistering letter to shareholders. Loeb and hedge-fund, multistrategy manager D.E. Shaw had struck a deal to avert a proxy fight last year, but the agreement expired Tuesday at midnight. Now, Loeb wants to replace a majority of CoStar's board and go after the CEO's “exorbitant pay packages,” he said. CoStar refutes Loeb's assertions but says it will continue Show less Read more
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