Hedge fund Shamrock Activist Value Fund met with TXI's Chief Executive Mel Brekhus and Chairman Robert Rogers on Aug. 3 to discuss the company's "poor record of performance versus its peers," and "ideas as to how to improve both management and director accountability." The meeting, according to a letter from Shamrock to TXI's board, didn't go well. "At the meeting, Rogers made it abundantly clear that he believes there is no place in the [TXI] boardroom for the voices of its shareholders," Shamrock Vice President Dennis Johnson wrote, adding, "It appears that Rogers fails to recognize that the shareholders own the company, and that he and this board are elected to serve only at the pleasure and in the interests of the shareholders." Johnson continued: "Perhaps this attitude is why the company's performance lags its peers, hundreds of millions of dollars of the company's funds have been 'invested' in ill-timed capital-expansion projects that have failed to generate any incremental profits, and there appear…to be no credible plan to address these shortcomings." Shamrock owns 2,826,556 shares (10.2% of total outstanding and has nominated three candidates for TXI's board. The firm manages investments for Roy Disney, nephew of Walt Disney.

Kopp Investment Advisors disclosed that it holds 2,483,631 shares (5.2%). The firm paid a little more than $13.9 million, or $5.60 per share, to acquire the holding.

Algebris Investments disclosed that it holds 3,421,965 shares (5.3%). The firm said it purchased the stock through the course of ordinary business, and may engage in communications with management or other shareholders.

Peninsula Capital Management disclosed that it owns 610,000 shares (9.9%). The firm purchased the shares on the open market for a little more than $14 million, or $23.15 per share, and has agreed to buy an additional 862,069 shares at $29 per share and warrants to purchase 129,310 shares at $29 directly from WSFS. Peninsula will own 1,472,069 shares (20.57%) if the stock-purchase agreement is approved by regulators.

Technology Crossover Management increased its stake to 4,728,838 shares (11.67%), buying 925,768 shares from July 13 to July 30 at $17.41 per share.

Harbinger Capital reduced its ownership to 11,233,573 shares (9.4%), after selling 5,579,838 of them on July 29 at $7.60 each.

Sandell Asset Management decreased its holdings to 8,751,966 shares (7.1%), after selling 1,884,840 from June 17 to July 29 at a range of $17.19 to $19.15 apiece.

ValueAct Capital filed a boilerplate 13D stating no current activist intentions, but reserving the right to talk with management and other stockholders and propose changes in Immucor's corporate governance, operations or capitalization.