0000950123-11-087615.txt : 20110929 0000950123-11-087615.hdr.sgml : 20110929 20110929160506 ACCESSION NUMBER: 0000950123-11-087615 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20110929 DATE AS OF CHANGE: 20110929 GROUP MEMBERS: ERIC SEMLER GROUP MEMBERS: TCS CAPITAL GP, LLC GROUP MEMBERS: TCS CAPITAL MANAGEMENT, LLC GROUP MEMBERS: TCS GLOBAL EQUITY MASTER FUND, L.P. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TCS CAPITAL MANAGEMENT LLC CENTRAL INDEX KEY: 0001167167 IRS NUMBER: 134154908 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 350 PARK AVENUE STREET 2: 4TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2126059811 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SRS LABS INC CENTRAL INDEX KEY: 0001016470 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 330714264 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-49103 FILM NUMBER: 111114630 BUSINESS ADDRESS: STREET 1: 2909 DAIMIER ST CITY: SANTA ANA STATE: CA ZIP: 92705 BUSINESS PHONE: 9494421070 MAIL ADDRESS: STREET 1: 2909 DAIMLER ST CITY: SANTA ANA STATE: CA ZIP: 92705 SC 13G 1 c22845sc13g.htm SCHEDULE 13G Schedule 13G

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. ___)*

SRS Labs, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
78464M106
(CUSIP Number)
August 31, 2011
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* 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 the disclosures provided in a prior cover page.

The information required in 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.
  
78464M106 
   Page  
2 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS
TCS Global Equity Master Fund, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Cayman Islands
       
  5   SOLE VOTING POWER
     
NUMBER OF   760,112
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   760,112
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  760,112
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  5.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  PN
*SEE INSTRUCTIONS BEFORE FILLING OUT

 

                     
CUSIP No.
  
78464M106 
   Page  
3 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS
TCS Capital GP, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   760,112
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    760,112
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  760,112
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  5.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO
*SEE INSTRUCTIONS BEFORE FILLING OUT

 

                     
CUSIP No.
  
78464M106 
   Page  
4 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS
TCS Capital Management, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   760,112
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    760,112
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  760,112
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  5.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IA
*SEE INSTRUCTIONS BEFORE FILLING OUT

 

                     
CUSIP No.
  
78464M106 
   Page  
5 
   of   
9 

 

           
1   NAMES OF REPORTING PERSONS
Eric Semler
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   o
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  5   SOLE VOTING POWER
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   760,112
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    760,112
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  760,112
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  5.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN
*SEE INSTRUCTIONS BEFORE FILLING OUT

 

SCHEDULE 13G
This Schedule 13G (this “Schedule 13G”) is being filed on behalf of TCS Global Equity Master Fund, L.P., a Cayman Islands exempted limited partnership (“TCS Global”), TCS Capital GP, LLC, a Delaware limited liability company (“TCS GP”), TCS Capital Management, LLC, a Delaware limited liability company (“TCS Management”), and Eric Semler (together with TCS Global, TCS GP and TCS Management, the “Reporting Persons”). This Schedule 13G relates to common stock, par value $0.001 per share (the “Common Stock”) of SRS Labs Inc., a Delaware corporation (the ‘Issuer”), purchased by Eric Semler, TCS GP and TCS Management for the account of TCS Global. TCS GP acts as general partner to TCS Global and TCS Management acts as investment manager to TCS Global. Mr. Semler, as the managing member of each of TCS GP and TCS Capital, controls the investment decisions of both entities.
Item 1(a) Name of Issuer.
SRS Labs Inc.
Item 1(b) Address of Issuer’s Principal Executive Offices.
2909 Daimler Street
Santa Ana, CA 92705
Item 2(a) Name of Person Filing.
  (1)  
TCS Global Equity Master Fund, L.P.
 
  (2)  
TCS Capital GP, LLC
 
  (3)  
TCS Capital Management, LLC
 
  (4)  
Eric Semler
Item 2(b) Address of Principal Business Office, or, if none, Residence.
For all Filers:
888 Seventh Avenue, Suite 1504
New York, NY 10019
Item 2(c) Citizenship or Place of Organization.
  (1)  
TCS Global Equity Master Fund, L.P. is a Cayman Islands exempted limited partnership.
 
  (2)  
TCS Capital GP, LLC is a Delaware limited liability company.
 
  (3)  
TCS Capital Management, LLC is a Delaware limited liability company.
 
  (4)  
Eric Semler is a U.S. citizen.
Item 2(d) Title of Class of Securities.
Common stock, par value $0.001 per share.

 

 

 

Item 2(e) CUSIP Number.
78464M106
Item 3 Reporting Person.
Inapplicable
Item 4 Ownership.
  (a)  
TCS Global, TCS GP, TCS Management and Eric Semler may be deemed the beneficial owners of 760,112 shares of Common Stock.
 
  (b)  
TCS Global, TCS GP, TCS Management and Eric Semler may be deemed the beneficial owners of 5.1% of the outstanding shares of Common Stock. This percentage was determined by dividing 760,112 by 14,916,246, which is the number of shares of Common Stock outstanding as of July 25, 2011, according to the Issuer’s Form 10Q filed on August 8, 2011 with the Securities and Exchange Commission.
 
  (c)  
TCS Global, TCS GP, TCS Management and Eric Semler have the shared power to vote and dispose of the 760,112 shares of Common Stock beneficially owned.
Item 5 Ownership of Five Percent or Less of a Class.
Inapplicable
Item 6 Ownership of More Than Five Percent on Behalf of Another Person.
Inapplicable
Item 7  
Identification and Classification of the Subsidiary which Acquired the Security Being Reported On by the Parent Company.
Inapplicable
Item 8 Identification and Classification of Members of the Group.
Inapplicable
Item 9 Notice of Dissolution of Group.
Inapplicable

 

 

 

Item 10 Certification.
By signing below, each Reporting Person certifies that, to the best of such Reporting Persons’ knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
Exhibits
Exhibit 99-1
Joint Filing Agreement, dated September 29, 2011, among the Reporting Persons.

 

 

 

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: September 29, 2011
         
  TCS GLOBAL EQUITY MASTER FUND, L.P.

By: TCS Capital GP, LLC, general partner
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  TCS CAPITAL GP, LLC
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  TCS CAPITAL MANAGEMENT, LLC
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  ERIC SEMLER
 		  
  By:   /s/ Eric Semler    

 

 

EX-99.1 2 c22845exv99w1.htm EXHIBIT 99.1 Exhibit 99.1
EXHIBIT 99-1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, the undersigned agree to the joint filing on behalf of each of them of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the securities of SRS Labs Inc., and further agree that this Joint Filing Agreement shall be included as an Exhibit to such joint filings.
The undersigned further agree that each party hereto is responsible for the timely filing of such Statement on Schedule 13G and any amendments thereto, and for the accuracy and completeness of the information concerning such party contained therein; provided, however, that no party is responsible for the accuracy or completeness of the information concerning any other party, unless such party knows or has reason to believe that such information is inaccurate.
This Joint Filing Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of September 29, 2011.
         
  TCS GLOBAL EQUITY MASTER FUND, L.P.

By: TCS Capital GP, LLC, general partner
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  TCS CAPITAL GP, LLC
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  TCS CAPITAL MANAGEMENT, LLC
 		  
  By:   /s/ Eric Semler    
    Name:   Eric Semler   
    Title:   Managing Member   
 
  ERIC SEMLER
 		  
  By:   /s/ Eric Semler