It has accused current board members of being more concerned with enriching themselves than improving shareholder value. Depomed has said its board is focused on creating value for all shareholders. Starboard said Friday it remains convinced that meaningful change is required at Depomed, and it still intends to "vigorously continue" its push to replace the existing board. "We acquired our position in Depomed because we believe that the company is substantially undervalued and opportunities exist to create significant value for shareholders," Starboard said in a statement. Earlier this month, Starboard said in a letter to Depomed Inc. executives that it was nominating six people to the drugmaker's board and searching for additional candidates. Aside from the reincorporation plan, Starboard also has criticized Depomed's rejection of a takeover bid by Dublin's Horizon Pharma last year.