To: Mr. Pink who wrote (15098 ) 4/11/2001 5:17:06 PM From: StockDung Respond to of 18998 BindView Investors Contact Banks About Company Sale Washington, April 11 (Bloomberg) -- BindView Development Corp. investors who are pushing the software company to sell itself said they contacted investment banks and may seek to run an opposition slate of candidates for the board. The investors including Chapman Capital LLC and Third Point Management Co., with a combined 6.9 percent stake in BindView, last month urged the Houston-based company to put itself up for sale, according to a Securities and Exchange Commission filing. The investors, saying they have been rebuffed in attempts to hold talks with management, stated in a new SEC filing that they're still seeking potential buyers for BindView, which sells security and systems-management software to business customers. ``We have also contacted certain investment banks regarding the potential sale of the company,'' said Robert Chapman of Chapman Capital and Daniel Loeb of Third Point, in a letter to BindView disclosed in an amended Schedule 13D filing with the SEC. The investors added, ``We may be interested in proposing our own nominees to the board at some point in the future.'' Chapman and Third Point also urged BindView board member Peter Bloom of General Atlantic Partners to resign, saying the Greenwich, Connecticut-based investment firm has a poor track record with some of its investments. General Atlantic issued a statement responding that it is ``continuing to dedicate its time and its resources to help BindView manage through the current market conditions and business cycle.'' General Atlantic reported holding 2.5 million shares of BindView at the end of last year. Chapman Capital of El Segundo, California, holds about 1.2 million shares of BindView, while New York-based Third Point owns about 2.4 million, for a combined stake of 3.6 million shares, according to the filing. A spokeswoman for BindView declined to comment. BindView shares fell 1 cent today to $2.98. The shares have plunged 93 percent from a March 2000 high of $45.75, about the time the technology-heavy Nasdaq Stock Market began a 62 percent slide. Apr/11/2001 17:00 ET For more stories from Bloomberg News, click here. (C) Copyright 2001 Bloomberg L.P.