UPDATE: Kanen Wealth Management Shows 5.26% Stake in magicJack VocalTec (CALL); Seeks Talks

August 19, 2016 2:58 PM EDT

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - August 19, 2016 3:04 PM EDT)

In a 13D filing on magicJack VocalTec (NASDAQ: CALL), hedge fund Kanen Wealth Management disclosed a 5.26%, or 834,417 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2016.

The following is from the 13D:

On August 19, 2016, Mr. Kanen sent a letter to the Company, a copy of which is included in Exhibit 99.2 hereto and incorporated herein by reference (the “Letter”).

The Reporting Persons acquired the Ordinary Shares reported in this Statement for investment purposes. The Reporting Persons may in the future acquire additional Ordinary Shares or dispose of some or all of the Ordinary Shares held by the Reporting Persons in open-market transactions or privately negotiated transactions, on such terms and at such times as the Reporting Persons may deem advisable. The Reporting Persons may engage in short selling or hedging or similar transactions with respect to the Ordinary Shares, on such terms and at such times as the Reporting Persons may deem advisable, subject to applicable law.

Except as set forth herein and in the Letter, none of the Reporting Persons has any present plan or proposal that would result in any of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons reserve the right in the future to formulate any such plans or proposals, and to take any actions with respect to their investments in the Company, including any or all of the actions described in paragraphs (a) through (j) of Item 4 of Schedule 13D.

For more notable holders of magicJack VocalTec stock click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

13Ds, Hedge Funds, Trader Talk

Related Entities

13D, Definitive Agreement

Add Your Comment