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Ditech Networks: Lamassu Missives Misleading

July 19, 2009 by  
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Envoy Global Research submits:

Back in June, we highlighted Ditech Networks (Nasdaq: DITC) as an interesting investment opportunity, given the company’s negative enterprise value, despite what appears to be clear signs of improving business fundamentals and financial performance

Recently, however, Lamassu Holdings LLC (Lamassu), a large institutional shareholder in DITC, has commenced a proxy fight with DITC to win board seats. Unfortunately in their pursuit of Board election, Lamassu has started disseminating

misleading information to stockholders of DITC, even though they claim to represent the interests of DITC’s shareholders.

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