Unhappy with ‘Rimage 2.0’, shareholders demand immediate $85m special dividend

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Via News Release

“Shareholders have spoken, and it is clear that they are unhappy with the direction Rimage (NASDAQ: RIMG) is headed.” — Richard S. Rofe, Managing Director, Arcadia Capital Advisors, LLC

On June 22, 2011, Arcadia issued an open letter to shareholders outlining the dangers it believed that the Company would encounter in pursuit of a virtual publishing solution, and advocated for a return of cash to shareholders. After the June letter was released, Arcadia stated that it was contacted by a significant number of shareholders who indicated they have similar views and concerns as Arcadia.”

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The demand follows a similar call from Schacht Value Investors earlier this year.

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