(Bloomberg) -- Starboard Value Chief Executive Officer Jeff Smith said his firm has built a new stake in Shake Shack Inc. Most Read from BloombergStarboard has a position of several hundred million dollars in Shake Shack, Smith said in an interview Wednesday on Bloomberg TV. Shake Shack, founded by restaurateur Danny Meyer, reported second-quarter sales and earnings that beat estimates after bringing in more diners. A representative for Shake Shack didn't immediately respond to a request for comment. And earlier version of this report corrected spelling of Shake Shack in headline)Most Read from Bloomberg Businessweek©2026 Bloomberg L.P.