Shareholder Douglas Kratz is concerned with the company's delay in filing its annual report, as well as the board's opposition to the recently completed consent solicitation by Jon Salmanson and Norman Morales, who successfully sought to have the company's bylaws modified. Kratz says that he is "outraged" at Vineyard's continued delay in filing its form 10-K with the Securities and Exchange Commission. In addition, the investor maintains that it's "utterly ridiculous" that it has taken this long to resolve any technology/accounting issues, and a timing issue related to loan-loss provisioning in back-to-back fiscal quarters. Kratz added that he might seek the removal of one or more members of senior management, or might initiate a tender offer for more or all of the company's shares. Kratz currently holds 530,000 shares (5.2% of the total outstanding).

Bristol Capital Advisors is withdrawing its two director nominees for election to Advocat's board. Bristol had planned to nominate Paul Kessler and Richard McKilligan. Bristol made its decision in light of Advocat's inclusion of its shareholder proposal in its definitive proxy. Bristol says that the healthcare company's proposal offers a "meaningful method for shareholders to express their concerns about the company and management." The investment firm previously had complained about deficiencies in the company's governance, and had hired an investment bank to review alternatives. In February, Bristol submitted a shareholder proposal that urged Advocat's board to sell or liquidate the company. It also criticized management's pay, which it viewed as too high. Bristol owns 294,834 shares (5.13%).

Trinad Capital Master Fund reported ownership of 598,034 shares (7.06%), bought from Feb. 8 to May 6 at prices that ranged from $2.14 to $2.44 apiece.

Billionaire investor Carl Icahn raised his stake to about 172.18 million shares (7.6%), from 144.56 million (6.4%). In early April, Icahn agreed to end his proxy battle for four seats on the Motorola board after the company agreed to seat Keith Meister and let another nominee, William Hambrecht, stand for election. Icahn also dropped his lawsuit seeking access to crucial board documents.

A group of funds managed by Mario Gabelli's Gamco Investors (GBL) increased its stake to 2,219,293 shares (16.44%) by purchasing 165,586 from April 23 to May 6 at prices that ranged from $12.08 to $14.85.

Chapman Capital lowered its holding to 11 million shares (4.9%), from the 13 million (5.8%) that it had reported owning on April 25.

Barington Capital Group reduced its stake to 282,703 shares (4.95%), from the 334,981 (5.85%) that it had reported owning on Feb. 1.

In response to a 13D filing by hedge-fund JMB Capital, the company decided to focus on strategic alternatives for achieving shareholder value, including the possible sale of the company. Shortly thereafter, the company announced that due to "the lack of any viable acquisition proposal" and current market conditions, it is no longer pursuing a sale of the company. In addition, stakeholder Third Point, an activist hedge fund, promptly filed a 13D stating that, in light of that announcement, Third Point may no longer be considered a passive investor.