1509 ET - Two days after Blackline reported a cooperation agreement with Engaged Capital, another activist investor emerges. FiveSpan Partners reported a 5.1% stake in the financial software company Thursday in a 13D filing. FiveSpan said it expects from time to time to talk to Blackline about topics such as management, board composition and capital allocation. In January, Engaged called for board changes, claiming the board failed in its fiduciary duty and complaining of "prolonged underperformance." This week, Blackline said it named Storm Duncan and Megan Prichard to the board in connection with the cooperation agreement. In March 2025, BlackLine named Scott Davidson a director as part of an agreement with Scalar Gauge Fund. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
March 13, 2026 15:09 ET (19:09 GMT)
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