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Technology Stocks : Oclaro, Inc. (Avanex-Bookham)

OCLR 8.260

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Dec 10 4:00 PM EST

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From: Glenn Petersen	7/12/2008 3:08:33 AM
	of 2293

Coming soon: The dreaded reverse split: Avanex Stockholders Authorize Potential Reverse Stock Split Friday July 11, 4:05 pm ET FREMONT, Calif.--(BUSINESS WIRE)--Avanex Corporation (NASDAQ:AVNX - News), a leader in telecommunication components that enable next-generation optical networks, today announced that at a special meeting of stockholders held on July 9, 2008, the stockholders authorized the Board of Directors to effect a reverse split of its common stock at any time before the annual meeting of stockholders in 2009 at a ratio ranging from 10-for-1 to 15-for-1. The Board of Directors will be assessing the appropriateness and size of a reverse split. If a reverse split is approved by the Board of Directors, the result would be that a specific number of shares of common stock between and including ten and fifteen would be combined into one share of common stock. “We are pleased with the support of our stockholders in authorizing the Board to effect a reverse split, and the confidence that it represents in Avanex going forward,” said Dr. Giovanni Barbarossa, Avanex’s Interim CEO. <snip> biz.yahoo.com

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