Shareholders including Michael Brauser and Dru Schmitt are "frustrated" by the board's inability to manage its business and "continued willingness to reward failure." On Feb. 2, they reported holding 5,557,038 shares (39.6%).

Shareholders including Michael Brauser and Dru A. Schmitt want to replace six of the seven current board members. The shareholders contend that the board, which apparently wants to sell the company, "has not acted in good faith." They are supporting Chairman Richard Rochon, who "has strong personal interests not to sell" Sunair. Massey Services, which has a 9.63% stake in Sunair, recently withdrew its offer to buy the company for 3 a share. Just prior to the withdrawal, Sunair issued a press release announcing that it had retained an investment-banking firm to explore strategic alternatives, including a possible sale. The investors own 5,557,083 shares (39.6%).

Massey Services reiterated its offer to acquire all the Sunair Services shares it doesn't already own for $3 each in cash. Massey advised Sunair's board that it would withdraw the offer if the board didn't agree to begin negotiating by Jan. 26. Massey said its financing sources will have four weeks to complete their due diligence, and that Sunair could have a 20-day "go-shop" period following the execution of the definitive agreement. In early December, Massey had already offered to acquire Sunair for a cash payment of $3 a share but was rebuffed. Massey currently holds 1,260,972 shares (9.63%).

A shareholder group including Dru A. Schmitt wants Sunair to be sold, with net proceeds distributed to shareholders. The group says that it is considering options, including replacing the board with people who are "not self-interested or not willing to overlook the track record of Richard Rochon, Sunair's chairman, and his associates." The group owns about 5.2 million shares (37% of the total outstanding).