Costa Brava Partnership III sent a letter to the board, expressing concern about whether the interests of minority stockholders are being fairly represented in the proposed sale of MedQuist. Anglo-Dutch Royal Philips Electronics (PHG) announced in November that it planned to sell its 70% stake in the U.S. medical-transcription and billing services company. Costa Brava -- which is nominating a slate of directors to MedQuist's board -- previously has expressed concern over possible conflicts of interest by Philips' executives on MedQuist's board, related to the sale. Costa Brava currently holds 1,938,821 shares (5.2% of the total outstanding).

Vector Capital, which had expressed an interest in acquiring Captaris, said that the company would stop providing non-public information to Vector under a confidentiality pact and that the agreement would be terminated. Vector and Captaris entered into the agreement in September, with a view toward exploring a potential transaction. Vector said that it now has no choice but to abandon its path of encouraging Captaris to maximize shareholder value. It had urged Captaris to look at a possible merger, sale of assets, consolidation, business combination or a recapitalization or refinancing. Vector holds 2,689,960 shares (10.1%).

Water Asset Management urged the company to immediately pursue strategic alternatives, including the possibility of a sale. The shareholder also proposed amending Insituform's bylaws, to fix the size of its board at six directors. Water Asset Management, which wants to nominate five directors for election at the 2008 annual meeting, owns 1,466,008 shares (5.3%).

Hedge-fund Harbinger Capital Partners Master Fund I has notified Media General of its nomination of three candidates for election to the board. Harbinger is nominating J. Daniel Sullivan, F. Jack Liebau Jr. and Eugene I. Davis to succeed three current directors, whose terms will expire at the 2008 annual meeting. Harbinger and affiliate Harbert Management own 4,058,454 shares (18.4%).

Cannell Capital wants the company to hire an investment bank to look at ways to increase shareholder value, including a possible merger or auction. Cannell said that it had sent MFRI a proposal to be voted on by shareholders at the company's annual meeting. Cannell reserves the right to discuss various views with regard to the company and its business plans with MFRI or members of senior management. Cannell Capital has 568,065 shares (8.5%).

Billionaire investor Carl Icahn intends to talk with management about ways to enhance shareholder value. Icahn maintains that the stock of the Dallas bank holding company is undervalued. He holds about 3.46 million shares (9.77%).

Investor Charles Mathewson reported ownership of 593,011 shares (6.72%) after buying 375,308 from Nov. 28, 2007, to Jan. 16, at prices ranging from $3.97 to $4.53.

Steel Partners raised its holdings to 2.43 million shares (11.3%), from the 2.14 million (9.9%) reported on Dec. 31. Steel Partners recommended that EnPro pursue a recapitalization at $30 a share for at least $150 million of common stock, or hire an investment bank to explore strategic alternatives to maximize shareholder value, including the sale of the company. Steel also nominated five directors for election to the eight-member board.