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  "documentTitle": "Rovi Corporation (ROVI)",
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  "notes": "Uses a classic 'Claim vs. Reality' structure to frame the board's offer as disingenuous.",
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      "text": "The Board’s settlement offer fell woefully short of the boardroom change we believed necessary",
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      "text": "While the Board claims it wanted to resolve this matter without the “distraction and expense of a proxy fight,” the only settlement offer ever proposed by the Board came in early April 2015",
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      "text": "ROVI recently made a good faith settlement offer to Engaged Capital, offering to further augment the Board with two new directors – one of Engaged Capital’s nominees and another to be mutually agreed upon",
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      "text": "Refused to form a new strategy and finance committee independent of the Chairman or CEO; Restricted Engaged Capital from buying more than 1% of ROVI's outstanding shares",
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      "text": "ROVI's settlement offer was NOT reasonable; Offered to ADD one of our nominees and ADD another “mutually agreed” upon director; ROVI's suggestion for a “mutually agreed” independent candidate sits on another public board with one of Rovi's current directors",
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      "text": "Source: ROVI letter dated 4/13/2015,",
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