Transmeta's largest shareholder demands 4 board seats

venerdì 21 dicembre 2007 14:52
 

Dec 21 (Reuters) - Riley Investment Management LLC, the largest shareholder of Transmeta Corp TMTA.O, said in a regulatory filing that it wanted changes to the company's board, citing recent option grants and other developments.

In a letter to the company, the investor demanded four board seats to replace those board members who have held their position since the company's initial public offering.

Riley Investment also said it was concerned about the strategic direction the company appears to be taking following its favorable settlement of patent litigation with Intel Corp (INTC.O: Quotazione). (Reporting by Purwa Khandelwal in Bangalore; Editing by Amitha Rajan)