RE: Karen Singer
From what I gather from looking at all the sec filings under her name, Karen (and this is perception only) is a savvy woman. She is in charge of a trust that benefits the children of Karen and Gary singer. She is the sister in law of Steven Singer. (who they are I have yet to figure out)
She tends to own communication/tele stocks, but I am assuming that based on her current positions.
She currently owns on record
2,807,674 or 10.94% of ARBX (Arbinet)
2,927,251 or 3.9% of IBAS (Ibasis)
2,357,702 or 5.2% of NMSS (NMS communications)
3,092,528 0r 16% of EVOL (evolving systems)
In the past she has been involved in using her shares to encourage changes in the owned companies to benefit herself and other shareholders. Those changes have been new appointments to board of directors and/or exploration of strategic alternatives including and not limited to possible sale of the issuer or possible mergers. AN example of this in the past was GBE (globix) merging with NEON (neon communications) becoming NGI (neon/globix), then being bought by RCNI (RCN corporation for 5.15-5.25 a share)
Tracking back, this process can be currently viewed by looking into the ARBX filings (SC13D/A 2007-05-08).
ALso, ARBX appears to be shedding it's cash by a .40 dividend to shareholders. Note the amount Karen owns above. Shedding cash makes me wonder what is up as, IMHO, it's cheaper to buy a company if you aren't buying their cash as well.
and note on our most recent filing we have a few paragraphs about a standstill agreement with EVOL and Karen which are noted by the stars on the next post.
SO who is Karen and what's up? Unknown...but in the past it appears Karens involvement, IMHO, is a positive for a shareholder and quite possibly a negative for a company. She accumulates enough shares to have a fair bit of control. Right now she has 16% of our company.
More to follow...
"It was the best of times, it was the worst of times; it was the age of wisdom, it was the age of foolishness;
-- Charles Dickens
