“The CoStar Group Board of Directors and management team are taking decisive action to prioritize profitable growth and increase long-term value for all stockholders,” read the statement. “Over the last nine months, the CoStar Group Board and management team have conducted extensive engagement with holders of a vast majority of the Company’s outstanding shares, including Third Point. As a result, 50% of the CoStar Group directors have been appointed in the last three years. Announcing a new independent Board Chair alongside the retirement of our prior independent Chair and two other independent directors. “Third Point appears intent on spinning a yarn of Board complacency and ‘quixotic’ investment,” the statement continued.