3Com (COMS) Citadel Investment Group would like to meet with the management and board to discuss the networking-systems company's strategy. Citadel Investment believes that many options exist today for the creation of substantial value for 3Com's shareholders, but it didn't specify what those options are in the letter. Citadel Investment reported ownership of 33,492,877 shares (8.4%).

Alliance Bancorp (ALLB) PL Capital Advisors intends to influence the company's policies and assert shareholder rights, with the goal of maximizing long-term value of Alliance stock. PL Capital may make further purchases of the Pennsylvania banking company's shares, although it now has no intention of increasing its holdings above 9.99%. PL Capital currently owns 379,666 shares (5.3%).

Bay Harbour Management intends to continue to seek representation on Penn Traffic's board. Bay Harbour said that it's "concerned" that it has no representation on the board, and suggested that Penn Traffic increase the number of directors and elect one of its designees to fill the vacancy, which the company has refused to do. Bay Harbour said it has been negotiating with the food distributor and supermarket owner to enter into a confidentiality agreement to assist the company in addressing its financing alternatives, but that the parties have been unable to reach an agreement. As of Feb. 16, Bay Harbour reported ownership of 1,912,992 shares (23.1%).

Glenayre Technologies (GEMS) Third Point urged Glenayre Technologies' management to immediately begin an auction to sell the company, which makes prerecorded CDs and DVDs, among other items. Third Point said that the "only logical decision" for Glenayre Technologies' management and board is to immediately hire financial advisers to arrange a sale. Third Point currently holds 4,415,000 shares (6.3%).

Comarco (CMRO) Elkhorn Partners intends to nominate three directors for election to the board at the company's 2007 shareholders' meeting. The nominees are William H. Evers Jr., chief executive officer of Systems Technology & Science; Alan S. Parsow, general partner of Elkhorn; and Sean T. Mullen, a principal of the public-accounting and consulting firm Hancock & Dana. Elkhorn Partners currently owns a stake of 9.1% -- 668,898 shares -- of Comarco stock outstanding. The company makes mobile-power adapters that can be used in recharging products such as laptop computers and cell phones.

Cowlitz Bancorp (CWLZ) Crescent Capital VI reported ownership of 483,000 shares (9.8%), after buying 348,858 from March 2 to April 30 at $16.73 to $17.16 a share.

Unisys (UIS) MMI Investments raised its holdings to 27.96 million shares (8.1%), from 24.35 million (7.1%), reported in March.