Thursday, July 12, 2007

Coghill Capital Discloses 9.9% Stake in Authentidate (ADAT), Wants Changes to Board and Capital Structures

In a 13D filing this morning on Authentidate Holding Corp. (Nasdaq: ADAT), Coghill Capital disclosed a 9.9% stake (3,434,804 shares) in the company and noted they are in contact with the company's Board of Directors to express their views relating to the company and its operations.

The firm believes that the Board should consider making certain changes to the Boards structure, and the capital structure. In addition, the firm has made several suggestions relating to the implementation of the company's strategic business initiatives. The suggestions weren't disclosed.

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