Dialectic Capital Management Comments on Preliminary Results of California Micro Devices Annual Meeting
September 17 2009 - 6:24PM
PR Newswire (US)
California Micro Devices Stockholders Overwhelmingly Elect All
Three Dialectic Director Nominees NEW YORK, Sept. 17 /PRNewswire/
-- Dialectic Capital Management, LLC ("Dialectic") today announced
that, based on a preliminary vote count, the stockholders of
California Micro Devices Corporation ("CMD" or the "Company")
(NASDAQ:CAMD) have overwhelmingly voted to elect all three of
Dialectic's director nominees -- John Fichthorn, J. Michael Gullard
and Kenneth Potashner -- to CMD's Board of Directors at the 2009
Annual Meeting of Stockholders held today. The three leading
independent proxy voting advisory firms, RiskMetrics Group, Glass
Lewis & Co. and PROXY Governance, Inc., had all recommended
that CMD stockholders vote on Dialectic's proxy card. John
Fichthorn, Dialectic's managing member, stated, "We thank
stockholders for their strong endorsement of our director nominees.
We believe their election will add valuable experience to the Board
to help drive positive change and improved financial performance at
CMD. Our director nominees look forward to working constructively
with the other members of the Board, management and stockholders to
maximize stockholder value." About Dialectic Capital Management,
LLC Dialectic Capital Management, LLC is a hedge fund sponsor based
in New York, New York. It manages a multi-sector long/short equity
fund. DATASOURCE: Dialectic Capital Management, LLC CONTACT:
Salomon Kamalodine, B. Riley & Co., LLC, +1-310-689-2217
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