Caxton Associates Seeks To Replace a Majority of InFocus (INFS) Board

In an amended 13D filing after the close Tuesday on InFocus Corporation (Nasdaq: INFS), 11.2% holder Caxton Associates said a result of the concerns previously expressed, and in light of the unsatisfactory conversations in the fourth quarter of 2006 between representatives of the Reporting Persons and members of the Board and the Company's operating management, they now intend to call a special meeting of the Company's shareholders and to seek to replace a majority of the current members of the Board.

Caxton Associates Raises Stake in InFocus (INFS), May Seek To Replace Directors

In an amended 13D filing on InFocus Corporation (Nasdaq: INFS), Caxton Associates disclosed a 11.2% stake (4.44 million shares). This is up from the 9.9% stake (3.95 million shares) the hedge fund disclosed in a recent 13D filing (December).

The hedge fund said in the the fourth quarter of 2006 their representatives had conversations with members of the Board and the Company's operating management and discussed with them concerns previously disclosed. Caxton Associates said they were not satisfied with the results of those conversations and will continue to examine all of their options in order to enhance shareholder value. Such options include the possibility of seeking to replace some or all of the members of the Board prior to the Company's 2007 annual meeting of shareholders.

In its original 13D 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 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.

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.