Monday, August 21, 2006
ISSI coup in aftermath of stock option trouble
The day after Integrated Silicon Solutions announced it would not file its quarterly report because of stock options questions, investor Bryant Riley bought up almost 200,000 shares, as the price slipped nine percent. Now, with 12 percent of the company in his hands, the Mercury News reports, Riley is moving to remake the board. Riley wants to get rid of five board members, replace them with himself and two others, and cut the size of the board by two.