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News Breaks | | | | December 24, 2012 | | 07:06 EDT |  | TSRA | Tessera responds to Starboard's notice of intent to nominate candidates to board
Tessera Technologies confirmed receipt from Starboard Value and Opportunity Master Fund of a notice of Starboard’s intent to nominate seven candidates to the Board of Directors at the Company’s 2013 Annual Meeting of Stockholders, which has not yet been scheduled. “The Nominating Committee and Board of Directors will review the proposed nominees in the ordinary course of our governance and nominating process,” said Robert J. Boehlke, chairman of the Board of Directors. “We are always open to hearing ideas or considering candidates that can help us create value for our stockholders, and we will carefully review the proposed candidates. We share our investors’ sense of urgency in getting the most value from our assets and businesses, which has led us to take strong actions in the past year, including the initiation of a dividend, significant cost reductions, the planned divestiture of non-core assets of DigitalOptics Corporation, and the addition of two new and highly qualified independent Board members.” The company noted that, as previously announced, the deadline for nominations to the Board and other matters for the 2013 Annual Meeting of Stockholders remains February 15, 2013. The company also noted that although Starboard has nominated up to seven candidates, it has not yet announced how many nominees it will actually seek to elect. | |
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| May 17, 2013 | | 07:08 EDT | | TSRA | Tessera says ISS, Glass Lewis recommend against Starboard control
Tessera announced that with addition of the report from Egan-Jones, proxy advisory firms including Institutional Shareholder Services and Glass Lewis have recommended that Starboard Value does not merit control of the company's board. ISS and Egan-Jones recommended for the company’s slate of nominees, Tessera added. | | | May 16, 2013 | | 16:27 EDT | | TSRA | SAC Capital reports 5.0% passive stake in Tessera
 Subscribe for More Information | | | May 15, 2013 | | 08:32 EDT | | TSRA | Starboard issues open letter to Tessera shareholders
"Just a few short months ago, Tessera was severely broken. The Board was in disarray and extremely dysfunctional, high levels of turnover persisted at the executive ranks, and there was no end in sight for the extended period of dramatic financial and stock price underperformance that we as shareholders had been forced to endure for far too long. Starboard therefore undertook, on behalf of shareholders, an intensive process to identify a world-class slate of director candidates committed to executing a thorough strategic turnaround at Tessera. Left to its own devices and absent external pressure, it did not appear that the Board would take such initiative on its own to address the Company's many deficiencies and shortcomings. Throughout this campaign, we have endeavored to gain your support based on presenting the facts, outlining our detailed action plan, and proposing a clearly superior slate of director nominees with specifically relevant credentials for Tessera. Unfortunately, management and the Board have taken a very different approach in this contest. They have repeatedly attempted to misrepresent our plan for Tessera, make false claims about our director nominees, and use manipulative tactics to make late-stage corporate governance changes to tip the balance in their favor... We are very pleased by Amici Capital's endorsement and support for our entire slate of director nominees at the upcoming Annual Meeting. Amici Capital's conclusion is largelysupported by the recent report issued by Glass Lewis, a leading proxy advisory firm, in which Glass Lewis recommended shareholders vote on Starboard's WHITE proxy card to elect four of our nominees to the Board." | | | 07:35 EDT |  | TSRA | JPMorgan to host a conference
41st Annual Global Technology, Media & Telecom Conference is being held in Boston on May 14-16 with webcasted company presentations to begin on May 15 at 8 am; not all company presentations may be webcasted. Webcast Link | | | May 13, 2013 | | 10:48 EDT | | TSRA | Starboard says Glass Lewis recommends four of its nominees for Tessera board
Subscribe for More Information | | | 06:31 EDT | | TSRA | Tessera expects to repurchase at least $16M over next four quarters
Subscribe for More Information | | | 06:30 EDT | | TSRA | Tessera announces special cash dividend of 30c
Subscribe for More Information | | | May 10, 2013 | | 07:08 EDT | | TSRA | Tessera settles litigation with Siliconware, terms not disclosed
Tessera Technologies announced that its Tessera, Inc. subsidiary has reached a settlement with Siliconware Precision Industries and Siliconware USA. In exchange for being released from the litigation, Siliconware will pay Tessera, Inc. a partial upfront fee and smaller quarterly payments over the next five years. The companies did not disclose the full terms and conditions of the settlement agreement. Tessera, Inc. and Siliconware agreed to dismiss claims and counterclaims between the two parties relating to Tessera Inc.’s patent infringement claims pending in the United States District Court, Northern District of California. | | | May 7, 2013 | | 09:37 EDT | | TSRA | Starboard Value sends letter to Tessera shareholders
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