UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(RULE 14a-101)
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934
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Forgent Networks, Inc.
108 Wild Basin Road, Austin, Texas 78746
(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
The Red Oak Fund, LP, a Delaware limited partnership;
Pinnacle Fund, LLLP, a Colorado limited liability limited partnership;
Bear Market Opportunity Fund, L.P., a Delaware limited partnership;
Pinnacle Partners, LLC, a Colorado limited liability company;
Red Oak Partners, LLC, a New York limited liability company;
David Sandberg.
(NAME OF PERSON(S) FILING PROXY STATEMENT, IF OTHER THAN THE REGISTRANT)
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Pinnacle Fund and Red Oak Announce that RiskMetrics Advises Shareholders to
Withhold Votes from ALL Asure Incumbents and Remind Holders of Voting
Information
New York, New York, August 24, 2009. Pinnacle Fund ("Pinnacle") and Red Oak
Partners ("Red Oak") expressed satisfaction that proxy advisor RiskMetrics
("RMG") recommended stockholders of Forgent networks, d/b/a Asure Software, Inc.
("ASUR") not vote for any of ASUR's incumbent directors, but instead vote on
the BLUE Pinnacle proxy card and cast votes for David Sandberg and Pat Goepel.
Pinnacle's David Sandberg stated, "We are gratified that RiskMetrics recognizes
that 'the company's sustained share price underperformance, declining
profitability, and lack of noticeable improvement in the financial metrics, is
indicative of the board's inability to enhance shareholder value over the
long-run' and that 'RMG is critical of the compensation practices at Asure and
believes that the board has not demonstrated a strong commitment to good
corporate governance. On this basis, we feel the dissident has met the burden
that change is warranted.'"
The RiskMetrics recommendation was consistent with the recommendation of PROXY
Governance, which on August 20th recommended that shareholders vote the BLUE
card in favor of David Sandberg, Pat Goepel and Robert Graham, and not vote for
any company incumbent nominees.
Pinnacle and Red Oak believe ASUR desperately needs change. If shareholders
agree, they are encouraged to vote FOR Pinnacle's slate by completing and
returning the BLUE proxy card or by contacting MacKenzie Partners, Inc. at
800-322-2885, 212-929-5500 or via email at proxy@mackenziepartners.com with any
questions or for assistance in voting their shares. Shareholders are encouraged
to also contact MacKenzie at the above information if they do not yet have a
BLUE proxy card.
Important Information
Pinnacle Fund, LLLP ("Pinnacle") and Red Oak Partners LLC ("Red Oak") filed a
definitive proxy statement with the Securities and Exchange Commission on July
30, 2009, in connection with the annual meeting of stockholders of Forgent
Networks, Inc. (the "Company") to be held on August 28, 2009. Stockholders are
strongly advised to carefully read Pinnacle's definitive proxy statement, as it
contains important information. Pinnacle and certain other persons are deemed
participants in the solicitation of proxies from stockholders in connection with
the annual meeting of stockholders. Information concerning such participants is
available in Pinnacle's definitive proxy statement. Stockholders may obtain,
free of charge, copies of Pinnacle's definitive proxy statement and any other
documents Pinnacle files with or furnishes to the Securities and Exchange
Commission in connection with the annual meeting of stockholders at www.sec.gov
by selecting "Search" at the top right and then typing "forgent" into the box
asking for the Company Name, and through the following website:
www.ourmaterials.com/pinnaclefund.