Glass Lewis & Co. Affirms the Need for Change on AOL Board and Recommends Shareholders Vote on Starboard's GOLD Proxy Card

Says AOL's Recent Actions and Commitments to Shareholders Have Been "Reactive" and the Current Board Has "Co-Opted Ideas Put Forward by Starboard"

Says AOL's Latest Claim that Starboard Intends to Liquidate the Company Is Unsupported, "at Best, Histrionic, and Patently Misrepresentative"

Says AOL's Actions "May Be Indicative of a Retrenched Board Unprepared to Substantially Alter the Status Quo or Consider Alternative Strategies"

Concludes that the "Incumbent Board Would Benefit from a Fresh Perspective"

Starboard Urges All Shareholders to Vote the GOLD Proxy Card to Support theElection of All Three Starboard Nominees -- Dennis A. Miller, Jeffrey C. Smith, and James A. Warner

Jun 05, 2012, 07:47 ET from Starboard Value LP