Transmeta (Semiconductor) (TMTA)

[Koog]

Transmeta: How to kick a company when it's down

Docu-Drama, Tuesday, Dec. 18. Posted by Chris O'Brien:

Last month, chip designer Transmeta (ticker: TMTA) got a letter from one of it major shareholders requesting that it consider a variety of options, such as selling itself or delisting its stock. The letter came from Riley Investment Management of Los Angeles which owned 5.9 percent of the stock at the time.

Well, let the piling-on commence. On Tuesday, two shareholders, Mark Nelson and Dana Johnson, filed a Schedule 13-D disclosing that they had spent almost $9 million acquiring Transmeta stock, giving them 5.5 percent of all shares.

But here's the bigger bummer for Transmeta: The pair used the filing to say they are on board with Riley's plan: Either sell or go dark.

Maybe the folks at Transmeta can frame those letters and hang them on the wall next to the plaque they got for recently making the Motley Fool's list of "5 Deathbed Stocks."

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