Mair Holdings (MAIR) Riley Investment Management and Mair reached agreement on board expansion and director appointments. Mair will enlarge its board from seven members to eight and named John Ahn, a Riley principal, as a director and nominating committee member. Riley has opposed Mair's bid to sell its Mesaba Airlines unit to Northwest Airlines (ticker: NWACQ). Riley has 923,152 shares (4.5% of the total outstanding).

Yardville National Bancorp (YANB) An investor group including Seidman & Associates said a court had found that the bank holding company's directors had breached their fiduciary duty. The Seidman affiliates had sued the New Jersey company to enjoin it from implementing a "new qualification bylaw" and to halt any attempt to prevent Lawrence B. Seidman or a Seidman-backed candidate from running for the board. As of Feb. 8, the group had 933,435 shares (8.75%).

Lear (LEA) Pzena Investment Management said that it may talk with Lear's independent directors about its opposition to the proposed buyout offer for the auto-parts maker by an affiliate of billionaire investor Carl Icahn. "We would like to remind the board of its fiduciary obligation ...and urge you to seek other offers," Pzena said. The firm added that it would like to meet with the independent directors to discuss the company's valuation. Pzena holds 6,776,279 shares (10.05%).

Tier Technologies (TIER.PK) Giant Investment said that it will nominate a director to Tier's board and that it wants to help the transaction processor evaluate strategic alternatives. Giant said Tier lacks the scale to remain independent and should explore a merger or sale. Giant and its affiliates want to sign a confidentiality agreement with Tier to evaluate these alternatives. Giant holds 1,834,000 shares (9%).

Lenox Group (LNX) Clinton Group said it had acquired Lenox shares because they were "undervalued and represented an attractive investment opportunity." It said it may hold discussions with the tableware maker's executives, board or with other shareholders about the company's plans. Clinton owns 958,380 shares (6.8%).

Reuters Group (RTRSY) ValueAct Capital Management lifted its position to 66,301,212 shares (5.2%) by buying 7,057,763 from Dec. 12, 2006, to Feb. 8, at $8.52 to $8.90 a share.