Clarent Corporation (CLRN) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Clarent Corporation (CLRN)

CLRN 0.0001000

+899.9%

Mar 7 3:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: DD™ who started this subject	6/26/2001 4:00:31 PM
From: Jay King	of 202

Unhappy Investor Urges Sale or Merger of Clarent WASHINGTON (Reuters) - Investor Irwin Jacobs criticized the management of Clarent Corp. (NasdaqNM:CLRN - news) for not doing enough to enhance shareholder value and called on the Internet telephony systems maker to find a partner or put itself up for sale. Jacobs, holder of a 7.7 percent stake in the Redwood City, California-based company, said in a letter to Clarent President Barry Forman dated June 25 that management has not communicated with shareholders as the company's stock price has fallen. ``You people have no clue about how to manage or communicate with the shareholders of a public company,'' Jacobs said in his letter, attached to a filing he made with Securities and Exchange Commission (news - web sites). ``I find it incomprehensible that Clarent, a company that has almost $200 million in cash with no debt, has not shown any initiative in enhancing shareholders' value, particularly when its stock price is trading at almost the same value per share that Clarent has in cash per share.'' Clarent closed on Monday at $7.15 on Nasdaq. The stock has swung from $6.75 to $97.63 in the past 52 weeks. The company did not immediately return a call seeking comment. Jacobs, who earned the nickname ``Irv the Liquidator'' on Wall Street in the 1980s by hunting companies to buy and sell at a profit, said Clarent doesn't deserve to be a public company under its present management. He warned in his letter that ``there are most likely going to be some very difficult days ahead'' for shareholders unless Clarent combines with a compatible partner or is sold. dailynews.yahoo.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next