-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MncBIiYUjLiAoYya9f0MLI7D7AgpVNcMVbCcntqZvaKEoVzCT2mHtlQAn1FRklsc eT/9ISsjl3w2stR5ZULpmw== 0001019687-08-004851.txt : 20081106 0001019687-08-004851.hdr.sgml : 20081106 20081106155306 ACCESSION NUMBER: 0001019687-08-004851 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081106 DATE AS OF CHANGE: 20081106 GROUP MEMBERS: B. RILEY & CO., LLC GROUP MEMBERS: BRYANT R.RILEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MANAGEMENT NETWORK GROUP INC CENTRAL INDEX KEY: 0001094814 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MANAGEMENT CONSULTING SERVICES [8742] IRS NUMBER: 481129619 FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-58049 FILM NUMBER: 081167110 BUSINESS ADDRESS: STREET 1: 7300 COLLEGE BLVD., STE 302 CITY: OVERLAND PARK STATE: KS ZIP: 66210 BUSINESS PHONE: 9133459315 MAIL ADDRESS: STREET 1: 7300 COLLEGE BLVD., STE 302 CITY: OVERLAND PARK STATE: KS ZIP: 66210 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Riley Investment Management LLC CENTRAL INDEX KEY: 0001345523 IRS NUMBER: 954799549 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 11100 SANTA MONICA BLVD. STREET 2: SUITE 810 CITY: LOS ANGELES STATE: CA ZIP: 90025 BUSINESS PHONE: 310-966-1444 MAIL ADDRESS: STREET 1: 11100 SANTA MONICA BLVD. STREET 2: SUITE 810 CITY: LOS ANGELES STATE: CA ZIP: 90025 SC 13D/A 1 rileyinvest_sd13damgt1103.txt SCHEDULE 13D AMENDMENT SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (RULE 13D-2-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A) (Amendment No. 2)(1) THE MANAGEMENT NETWORK GROUP, INC. (Name of Issuer) COMMON STOCK (Title of Class of Securities) 561693102 (CUSIP Number) RILEY INVESTMENT MANAGEMENT LLC ATTN: BRYANT R. RILEY 11100 SANTA MONICA BLVD. SUITE 810 LOS ANGELES, CA 90025 (310) 966-1445 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) NOVEMBER 3, 2008 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box: |_| Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) - -------------- (1) The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes) CUSIP No. 89336Q10 13D Page 2 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON Riley Investment Management LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 660,855(1) --------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,368,273(2) --------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 660,855(1) --------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 2,368,273(2) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,955,446(2) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES* [x] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.7%(3) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- - -------------- (1) Because Riley Investment Management LLC has 660,855 shares held in managed accounts by its investment advisory clients, Riley Investment Management LLC may be deemed to have beneficial ownership of these shares. (2) Riley Investment Management LLC has shared voting and dispositive power over 2,368,273 shares of Common Stock held by its investment advisory clients, 1,249,591 of which are held by investment advisory accounts indirectly affiliated with Mr. Riley or Riley Investment Partners Master Fund, L.P. However, Riley Investment Management LLC disclaims beneficial ownership of the non-affiliated shares. (3) Based on 34,069,753 shares of common stock of The Management Network Group, Inc. (the "Issuer") outstanding at August 9, 2008, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended June 28, 2008 filed with the Securities and Exchange Commission on August 12, 2008. CUSIP No. 89336Q10 13D Page 3 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON B. Riley & Co., LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 125,006 --------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY -0- --------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 125,006 --------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH -0- - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 125,006 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES* [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.4%(3) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* BD - --------- ---------------------------------------------------------------------- CUSIP No. 89336Q10 13D Page 4 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON Bryant R. Riley - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 785,861(4) --------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,368,273(5) --------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 785,861(4) --------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 2,368,273(5) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,080,452(5) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES* [x] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.1%(3) - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- - --------------- (4) Because Riley Investment Management LLC has sole voting and investment power over security holdings of certain managed accounts of its investment advisory clients and Mr. Riley, in his role as the sole manager of Riley Investment Management LLC, controls its voting and investment decisions, each of Riley Investment Management LLC and Mr. Riley may be deemed to have beneficial ownership of the 660,855 shares held in managed accounts by its investment advisory clients. B. Riley & Co., LLC has sole voting and dispositive power over 125,006 shares of Common Stock. Mr. Riley is the Chairman and sole indirect equity owner of B. Riley & Co., LLC. (5) Riley Investment Management LLC has shared voting and dispositive power over 2,368,273 shares of Common Stock held by its investment advisory clients, 1,294,591 of which are held by investment advisory accounts indirectly affiliated with Mr. Riley or Riley Investment Partners Master Fund, L.P. Although Mr. Riley controls Riley Investment Management LLC's voting and investment decisions for its investment advisory clients, Mr. Riley disclaims beneficial ownership of the non-affiliated shares. CUSIP No. 89336Q10 13D Page 5 ITEM 2. IDENTITY AND BACKGROUND Item 2 is hereby amended and restated as follows: (a)(i) Riley Investment Management LLC (Delaware limited liability company) Mr. Bryant R. Riley (individual residing in California) (ii) B. Riley & Co., LLC (Delaware limited liability company) (b)(i) 11100 Santa Monica Blvd., Suite 810 Los Angeles, CA 90025 (ii) 11100 Santa Monica Blvd., Suite 800 Los Angeles, CA 90025 (c) Mr. Riley manages and owns all of the outstanding membership interests of Riley Investment Management LLC ("RIM"), an SEC registered investment adviser. RIM is the investment advisor to clients pursuant to investment advisory agreements. B. Riley & Co., LLC ("BRC") is a FINRA registered broker dealer. Mr. Riley is the indirect equity owner and Chairman of BRC. (d) N/A (e) N/A (f) United States ITEM 5. INTEREST IN SECURITIES OF THE ISSUER Item 5(c) as previously filed is hereby amended to add the following: (c) On September 16, 2008, the Master Fund sold 767,028 shares to B. Riley & Co., LLC at a per share price of $1.01. The following are the other transactions in Common Stock have taken place in the past 60 days through November 5, 2008: MASTER TRANS CODE QUANTITY PRICE TRADE DATE SL 187 1.01 9/16/2008 INVESTMENT ADVISORY CLIENTS TRANS CODE QUANTITY PRICE TRADE DATE BY 22,500 0.8022 10/8/2008 BY 53,600 0.6379 10/14/2008 BY 1,000 0.7 10/20/2008 BY 13,100 0.7272 10/21/2008 BY 2,000 0.71 10/27/2008 B. RILEY & CO. LLC TRANS CODE QUANTITY PRICE TRADE DATE SL 40,422 1 9/16/2008 BY 3,000 0.7 10/24/2008 SL 5,000 0.63 10/24/2008 SL 350,000 0.85 10/31/2008 SL 600 0.9 10/31/2008 SL 247,000 0.88 11/3/2008 SL 1,600 0.9 11/3/2008 SL 400 0.9 11/4/2008 CUSIP No. 89336Q10 13D Page 6 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: November 6, 2008 Riley Investment Partners Master Fund, L.P. By: Riley Investment Management LLC, its General Partner By: /s/ Bryant R. Riley ------------------------------------------ Bryant R. Riley, Managing Member Riley Investment Management LLC By: /s/ Bryant R. Riley ------------------------------------------ Bryant R. Riley, Managing Member B. Riley & Co, LLC By: /s/ Bryant R. Riley ------------------------------------------ Bryant R. Riley, Chairman By: /s/ Bryant R. Riley ------------------------------------------ Bryant R. Riley -----END PRIVACY-ENHANCED MESSAGE-----