Activist investor Starboard Value is reportedly planning to launch a proxy fight at design software maker Autodesk, as disclosed by the Wall Street Journal on March 18.

Starboard, holding over a $500 million stake in Autodesk, aims to nominate a minority slate of director candidates prior to the upcoming annual meeting of the tech company, according to sources familiar with the situation cited in the report.

Having criticized Autodesk in the past for its "subpar operational and financial performance," Starboard also accused the company of "intentionally" misleading investors following an accounting issue disclosed last year.

In August, Starboard successfully pressured Autodesk to replace its CEO and cut costs after the company failed to meet financial targets and performed below expectations.

Autodesk chose not to comment on the report, while Starboard did not immediately respond to a request for comment from Reuters.

Led by Jeffrey Smith, Starboard Value is a renowned activist investor globally and has recently advocated for changes at companies such as Match Group in online dating and Salesforce in business software.