Rochester, NY 7/10/2009 1:28:40 AM
Afternoon Movers - DITC - Ditech Communications Investor Supports Board Nominees - Sourced WhisperFromWallStreet.com
Ditech Networks, Inc.
Afternoon Movers - DITC - Ditech Communications Investor Supports Board Nominees - Sourced WhisperFromWallStreet.com
Ditech Networks, Inc.,DITC
Lloyd Miller, a current and former investor in several Silicon Valley companies, disclosed Tuesday being the owner of a 5.9 percent stake in yet another: Ditech Communications of Mountain View. According to a filing with the SEC, Miller will use his recent purchases of Ditech stock to support two directors nominated by another investor, Lamassu Holdings, which owns 9.1 percent of Ditech and is challenging the nominees put forward by the company’s current board. Miller stated that he "seeks to encourage greater attention to corporate governance by all members" of Ditech’s board. Lamassu, a Southern California investment firm that first disclosed owning a large chunk of Ditech in December, has offered to acquire the company outright, but has been frustrated by the company’s lack of interest.
Last Trade: 1.35
Day's Range: 1.12 - 1.37
52wk Range: 0.60 - 2.19
Volume: 37,158
ABOUT
Ditech Networks, Inc. offers communications with voice processing solutions that perform tasks ranging from voice-enabled Web 2.0 and unified communications services to voice quality enhancement. The company offers various solutions that deliver voice communication and enable voice capabilities to new communications methods, such as social networking and text messaging. Its products help communications companies worldwide meet the multiple challenges of service differentiation, network expansion, and call capacity, by delivering voice quality. The company was formerly known as Ditech Communications Corporation and changed its name to Ditech Networks, Inc. in May 2006. Ditech Networks, Inc. was founded in 1983 and is headquartered in Mountain View, California.
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