Costa Brava Partnership III urged TechTeam's board to immediately announce a short timetable for separating the roles of chief executive and chairman. On Jan. 9, TechTeam appointed CEO Gary J. Cotshott as chairman. Costa Brava said the combination of CEO and chairman "limits the ability of the board to exercise true independent oversight of management and diminishes board effectiveness." Costa Brava said that, if the company persists in its current course, it would consider unspecified "alternatives." Costa Brava holds 1,360,391 shares (12.12% of the total outstanding).

Hedge fund KVO Capital Management requested a list of stockholders and related materials from Kana. KVO wants to communicate with other Kana stockholders in connection with a contemplated shareholder proposal for inclusion in Kana's next proxy statement. In November, KVO suggested the company consider an immediate sale of itself. The fund owns 3,011,093 shares (7.31%).

Tang Capital Management sent the company a letter nominating three directors for election at Penwest's annual meeting. Tang Capital and shareholder Perceptive Advisors said they plan to nominate Joseph Edelman, Kevin C. Tang and Andrew D. Levin for election to Penwest's board. Kevin C. Tang, Tang Capital's managing director, said he is "dissatisfied" with the company's operating plan and strategic direction. Tang Capital reported owning 5.14 million shares (16.2%).

Supermarket magnate Ron Burkle's Yucaipa Cos. investment firm reported owning 9,813,306 shares (7%), acquired from Nov. 24 through Jan. 7, at prices ranging from $8.94 to $10.55. Yucaipa says that Whole Food shares are undervalued and that the grocery chain can improve its operations. Yucaipa may vote its stock to approve an extraordinary transaction, such as a merger or consolidation, or seek to change Whole Foods' board.

Investor Warren B. Kanders reported ownership of 418,341 shares (5.2%), bought on Dec. 31 at $5.60 a share.

Highland Capital Management urged the board to liquidate the company. Highland's request came amid the company's failure in its clinical trial for Viprinex, a drug for the treatment of acute ischemic stroke. Highland Capital has 4,737,479 shares (17.6%).

Sandler O'Neill Asset Management raised its stake to 1,100,600 shares (6.7%) from the 900,000 (5.48%) that it had reported owning on Oct. 16, 2008.

Relational Investors lowered its position to 25,131,618 shares (10.96%), by selling 2.6 million from Jan. 6 to 8 at an average price of $10.77.