13Ds are filed with the Securities and Exchange Commission within 10 days of an entity's attaining a 5% or more position in any class of a company's securities. Any subsequent change in holdings or intentions must be reported on an amended filing. This material has been extracted from filings released by the SEC from August 26 through September 1.
Investors including Kellogg Capital Group are concerned about what they view as unwillingness by the board and management to engage in meaningful strategy discussions with shareholders. The group has an 8% stake.
MMI Investments reiterated its concern that the company should take steps to increase shareholder value. MMI increased its stake to 3.5 million shares (9.7%) after buying 575,000 on Aug. 10-24 at $13.23 to $13.87 a share.
A group including Pirate Capital proposed that Cornell have shareholders vote on its sale, removal of a board member and separation of the role of CEO and chairman. The group owns 1,300,600 shares (9.8%).
Investor Jack Goldstein reported ownership of 386,500 shares (5%), but provided no further details.
A group including MAC Partners reported holding 4.5 million shares (5.23%).
CEO Charif Souki owns 1,375,017 shares (7.07%). No details were given.
Elkhorn Partners raised its stake to 859,187 shares (12.9%) after buying 15,237 July 19 at $6.64 to $7.19 a share.
Leaf Mountain cut its stake to 2,408,697 shares (5.9%), down from the 2,920,000 it reported on May 11.
Director David C. Prosser owns 728,933 shares (13.9%), after selling 167,400 from April 1 to July 19 at $6.36-$6.96 apiece.