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NEW YORK (AP) - When a group of Take-Two Interactive Software Inc. shareholders staged a board coup recently, an unlikely participant was among those leading the charge: A mutual fund.
Fund managers typically aren't known for their shareholder activism. Mutual funds have long protested corporate decisions by selling their stock, not by publicly taking a stand against management.
But the Take-Two example, and others this year, may be signaling a welcome change. They may be taking the cue from activist hedge funds that increasingly are demanding changes after buying big stock stakes, including higher dividends, share buybacks or buyout offers.
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