Smith (pictured) had complained in press releases and securities filings that it had significant concerns about DepoMed's corporate governance, "questionable capital allocation decisions" and "egregious actions by the board to stymie strategic interest." Starboard and other activists often launch campaigns at companies that have successfully fended off hostile bids in the past in an effort to reinvigorate interest in selling the businesses. The activist had been able to expedite its insurgency campaign at DepoMed by calling and eventually setting a date for a special shareholder meeting for shareholders to vote on a dissident slate of directors nominated by the fund to take over the pharmaceutical company's board at a Nov. 15 special meeting. Since DepoMed's board allowed for special shareholder meetings, Starboard didn't have to wait until an annual meeting to get a vote on its dissident slate of directors. However, the meeting was called off after the settlement was announced Monday.