Friday, July 06, 2007

Loeb Partners Requests Sale or Complete Liquidation of ESS Technology (ESST)

In a 13D filing on ESS Technology, Inc. (Nasdaq: ESST), Loeb Partners disclosed an 8.83% stake in the company and said, "In light of the history of the Issuer, Loeb is of the firm belief that the Issuer has only one viable option, a sale or complete liquidation of the Issuer on a timely and cost-effective basis." The firm said it may engage in talks with the company or seek Board representation if this option is notpursued vigorously.

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