A group including Bulldog Investors sent a letter to Wilshire saying that it will propose, for a shareholder vote, that Wilshire pursue a "liquidity event" rather than a growth strategy. Bulldog believes Wilshire is too small to continue absorbing the costs of remaining a public company. Also, shareholders are subject to double taxation as WOC is is a C-corporation, not a real-estate investment trust. Bulldog said it's "not convinced that growing Wilshire is preferable to pursuing a liquidity event, and the market has not responded favorably to Wilshire's new direction." The Bulldog group currently holds 1,734,456 shares (21.9% of total outstanding).

Perceptive Advisors believes PPCO is "wasting money on programs that will not generate value for its shareholders." Perceptive said that a Nov. 21 presentation by Penwest CEO Jennifer Good "did nothing to address our assertion" that PPCO is wasting money; rather, the holder said it was given greater detail "into exactly where this money is being wasted." Perceptive challenges the CEO and the board of directors to present a coherent, quantitative, and rational analysis illustrating that the $22 million in expenses projected for '09 are justified and will result in value creation. Perceptive currently holds 6,697,208 shares (21.2%).

A former interim CEO of LCAV, Craig P.R. Joffe, sent a letter to the company demanding to inspect a complete list of holders of its common stock, showing the name, address and number of shares registered for each such holder. He also wants to inspect that data in electronic form. Joffe; his father, former Chairman Stephen Joffe; and former CFO Alan Buckey have formed an ownership group which holds 2,115,320 shares (11.4%).

Quicksilver Resources (KWK) sent a "demand letter" to BreitBurn requesting information about holders of common units and the business and financial condition of BreitBurn. Quicksilver said the purpose of the demand letter is to enable BreitBurn to communicate with other holders of common units on BBEP governance, and in connection with any vote for directors of its general partner BreitBurn GP, as well as any vote for removal of BreitBurn GP. Quicksilver holds 21,347,972 shares (40.56%).

A group of funds managed by Mario Gabelli's Gamco Investors (GBL) raised its stake to about 4.74 million shares (8.92%) from 4.21 million (7.91%) reported in September. Gamco has said it may submit recommendations for one or more individuals as nominees for director to the board.

Marlin Sams Fund increased its stake to 683,000 shares (8.7%), from the 450,000 (5.7%) reported on Aug. 13.

Trilogy increased its stake in Selectica to about 1.91 million shares (6.7%), from 1.76 million (6.1%) reported on Nov. 20.

West Coast Asset Management cut its stake to 4.4 million shares (5.9%) from 5.6 million (7.5%) reported on Oct. 28. In October, West Coast said it may approach QLT's management about taking QLTI private or merging it with another company.