Pinnacle Fund and Red Oak Announce that RiskMetrics Advises Shareholders to Withhold Votes from ALL Asure Incumbents and Remind
August 24 2009 - 3:41PM
PR Newswire (US)
NEW YORK, Aug. 24 /PRNewswire/ -- Pinnacle Fund ("Pinnacle") and
Red Oak Partners ("Red Oak") expressed satisfaction that proxy
advisor RiskMetrics ("RMG") recommended stockholders of Forgent
networks, d/b/a Asure Software, Inc. ("ASUR") not vote for any of
ASUR's incumbent directors, but instead vote on the BLUE Pinnacle
proxy card and cast votes for David Sandberg and Pat Goepel.
Pinnacle's David Sandberg stated, "We are gratified that
RiskMetrics recognizes that 'the company's sustained share price
underperformance, declining profitability, and lack of noticeable
improvement in the financial metrics, is indicative of the board's
inability to enhance shareholder value over the long-run' and that
'RMG is critical of the compensation practices at Asure and
believes that the board has not demonstrated a strong commitment to
good corporate governance. On this basis, we feel the dissident has
met the burden that change is warranted.'" The RiskMetrics
recommendation was consistent with the recommendation of PROXY
Governance, which on August 20th recommended that shareholders vote
the BLUE card in favor of David Sandberg, Pat Goepel and Robert
Graham, and not vote for any company incumbent nominees. Pinnacle
and Red Oak believe ASUR desperately needs change. If shareholders
agree, they are encouraged to vote FOR Pinnacle's slate by
completing and returning the BLUE proxy card or by contacting
MacKenzie Partners, Inc. at 800-322-2885, 212-929-5500 or via email
at with any questions or for assistance in voting their shares.
Shareholders are encouraged to also contact MacKenzie at the above
information if they do not yet have a BLUE proxy card. Important
Information Pinnacle Fund, LLLP ("Pinnacle") and Red Oak Partners
LLC ("Red Oak") filed a definitive proxy statement with the
Securities and Exchange Commission on July 30, 2009, in connection
with the annual meeting of stockholders of Forgent Networks, Inc.
(the "Company") to be held on August 28, 2009. Stockholders are
strongly advised to carefully read Pinnacle's definitive proxy
statement, as it contains important information. Pinnacle and
certain other persons are deemed participants in the solicitation
of proxies from stockholders in connection with the annual meeting
of stockholders. Information concerning such participants is
available in Pinnacle's definitive proxy statement. Stockholders
may obtain, free of charge, copies of Pinnacle's definitive proxy
statement and any other documents Pinnacle files with or furnishes
to the Securities and Exchange Commission in connection with the
annual meeting of stockholders at http://www.sec.gov/ by selecting
"Search" at the top right and then typing "forgent" into the box
asking for the Company Name, and through the following website:
http://www.ourmaterials.com/pinnaclefund. DATASOURCE: Pinnacle Fund
CONTACT: David Sandberg, at Red Oak Partners, +1-212-614-8952, Web
Site: http://www.ourmaterials.com/pinnaclefund
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