D.E. Shaw is pushing for changes to CoStar Group’s (CSGP) board and plans to make its intentions public on Wednesday, Lauren Thomas and Peter Grant of Wall Street Journal report, citing people familiar with the matter. D.E. Shaw believes CoStar shares have underperformed because of its “high-risk, money-losing” investment in Homes.com, a letter the hedge fund plans to deliver to the company’s board says, according to the Journal. D.E. Shaw believes a change of leadership is needed to address CoStar’s underperformance, according to the letter.
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