Riley Investment Management said that it had reached a settlement with Transmeta on director nominations. Riley agreed to dismiss the derivative stockholder action that it had filed against Transmeta and to withdraw its nomination letter for the 2008 annual meeting. Transmeta will boost the size of its board to nine directors, and will include Bryant R. Riley among its nominees for election. Riley Investment Management agreed that, at least until 2010, it and its affiliates won't seek to acquire Transmeta. Riley had expressed an interest in buying the processor-technology company for $15.50 a share, a bid that Transmeta deemed too low. Riley Investment owns 1,357,364 shares (11.2% of the total outstanding).

Riley Investment Management said that it's extending until Feb. 28 its bid for all of the company's outstanding shares. Previously, Transmeta had retained Piper Jaffray to work with its board to help evaluate the unsolicited, conditional offer. Riley said Transmeta hasn't responded, and that it's disappointed by the board's behavior. Riley Investment has 856,478 shares (7.1%).

A previous high performer

Riley Investment Management is concerned about Transmeta's strategic direction, in light of its recent grant of 725,000 stock options to four top executives. Riley Investment criticized Transmeta for the grants, which it maintains were given "at great cost to the shareholders with no commensurate value creation." Riley Investment wants to be allowed to replace the four board members, who have been directors since Transmeta's initial public offering. The investing firm also said that it intends to send a separate demand to examine Transmeta's books and records and to investigate the company's recent options grants.
Riley Investment currently holds 796,109 shares (6.4%).

Investor Mark Nelson, who owns 660,544 shares (5.5%), wants Transmeta to "carefully review all options to enhance shareholder value." Another activist investor, Riley Investment Management, previously called for Transmeta to review its strategic options to enhance value. Riley holds a 5.9% stake in the company. MSB Financial (MSBF)

Efficient MCU

"Riley Investment Management urged the company to review all options to enhance shareholder value. Riley and its affiliates beneficially own 708,998 shares (5.9%)."

be 4 wanna buy , i want to ask for this symbol , buy or no buy , pls let know thanks

bullish

volume

Give me a break.. this was a $4 stock that only won a lawsuit that was worth more that the companys market cap. Its time to short it big...