Friday, December 22, 2006

Caxton Associates Raises Stake in InFocus (INFS) to 9.9%

In an amended 13D filing after the close on InFocus Corporation (Nasdaq: INFS), Caxton Associates disclosed a 9.9% stake (3.95 million shares). This is up from the 8.9% stake (3.55 million shares) the hedge fund disclosed in the original 13D filing on 10/13.

In the original filing, Caxton said they believe that the intrinsic value of the Company, and the amount a strategic or financial buyer would pay to acquire the Company, is significantly greater than the current market value of the Common Stock.

The firm also said unless significant changes are made promptly, changes in the Board are in the best interests of all shareholders. They also said the Board should immediately work with management to develop a new business plan and said the new plan should be assessed against other available alternatives, including the possibilities of a sale or restructuring of the Company.

In October, InFocus hired Banc of America to evaluate strategic alternatives.

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