OPWV & proxy fight

Discussion in 'Trading' started by DeltaSpread, Dec 28, 2006.

  1. OPWV is busting out right now on this news. Anyone here ever trade/see a proxy fight through??

    It sounds very appealing for OPWV, including an aggressive stock repurchase plan, but after missing a 10% move up in just half a day, I am really not going to just jump right in here.


    Openwave shares rise on notice of Harbinger proxy fight

    SAN FRANCISCO (MarketWatch) -- Openwave Systems Inc. shares rose 10% to $9.70 on Thursday trading after Harbinger Capital Partners announced late Wednesday it plans to nominate two directors, James Zucco and Andrew Breen, to the Redwood City, Calif.-based software company's board. The company's shareholders will vote on the nominees at Openwave's annual meeting on Jan. 17. Harbinger said Zucco and Breen, if elected, would recommend phasing-out non-performing product lines, reducing quarterly operating expenses to roughly $50 million and launching a "significant" share repurchase program.