-----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, DD/g3FQ+fiuq8qvHsNcgBbwV7DuIUGgAjmUyD4+/2OTA3jEAFAoic85fgSCcBlkT 2cdxOMmd5m4dMvCKdajuAQ== 0001169232-08-001259.txt : 20080307 0001169232-08-001259.hdr.sgml : 20080307 20080306194048 ACCESSION NUMBER: 0001169232-08-001259 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20080307 DATE AS OF CHANGE: 20080306 GROUP MEMBERS: DAVID NIERENBERG GROUP MEMBERS: NIERENBERG INVESTMENT MANAGEMENT OFFSHORE, INC. GROUP MEMBERS: THE D3 FAMILY BULLDOG FUND, L.P. GROUP MEMBERS: THE D3 FAMILY CANADIAN FUND, L.P. GROUP MEMBERS: THE D3 FAMILY FUND, L.P. GROUP MEMBERS: THE DIII OFFSHORE FUND, L.P. FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NIERENBERG INVESTMENT MANAGEMENT CO CENTRAL INDEX KEY: 0001282683 IRS NUMBER: 911677205 FILING VALUES: FORM TYPE: SC 13D MAIL ADDRESS: STREET 1: 19605 NE 8TH ST CITY: CAMAS STATE: WA ZIP: 98607 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MOVE INC CENTRAL INDEX KEY: 0001085770 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE AGENTS & MANAGERS (FOR OTHERS) [6531] IRS NUMBER: 954438337 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-58289 FILM NUMBER: 08672395 BUSINESS ADDRESS: STREET 1: 30700 RUSSELL RANCH RD CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91362 BUSINESS PHONE: 805-557-2300 MAIL ADDRESS: STREET 1: 30700 RUSSELL RANCH RD CITY: WESTLAKE VILLAGE STATE: CA ZIP: 91362 FORMER COMPANY: FORMER CONFORMED NAME: HOMESTORE INC DATE OF NAME CHANGE: 20021113 FORMER COMPANY: FORMER CONFORMED NAME: HOMESTORE COM INC DATE OF NAME CHANGE: 19990505 SC 13D 1 d73834_sc13d.txt GENERAL STATEMENT OF ACQUISITION OF BENEFICIAL OWNERSHIP UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. ___) MOVE, INC. (MOVE) (Name of Issuer) Common Stock (Title of Class of Securities) 62458M108 (CUSIP Number) David Nierenberg The D3 Family Funds 19605 NE 8th Street Camas, WA 98607 (360) 604-8600 With a copy to: Henry Lesser, Esq. DLA Piper US LLP 2000 University Avenue East Palo Alto, CA 94303 (650) 833-2000 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 25, 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 that is the subject of this Schedule 13D and is filing this schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box |_|. 1 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Washington - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,640,257 common shares (1.1%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 1,640,257 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 1,640,257; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 2 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Bulldog Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Washington - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 6,045,402 common shares (4.0%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 6,045,402 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 6,045,402; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 3 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The D3 Family Canadian Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Washington - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 316,220 common shares (0.2%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 316,220 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 316,220; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 4 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON The DIII Offshore Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Bahamas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 1,928,198 common shares (1.3%) ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 0 OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 1,928,198 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 1,928,198; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 5 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON Nierenberg Investment Management Company, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Washington - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 9,930,077 common shares (6.6%) OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 9,930,077 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 9,930,077 shares; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 6 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON Nierenberg Investment Management Offshore, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Bahamas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,928,198 common shares (1.3%) OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,928,198 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 1,928,198; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 7 CUSIP No. 62458M108 - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSON David Nierenberg - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Washington - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 ----------------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 9,930,077 common shares (6.6%) OWNED BY ----------------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 WITH ----------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 9,930,077 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON For the reporting person listed on this page, 9,930,077; for all reporting persons as a group, 9,930,077 shares (6.6%) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! 8 Item 1. Security and Issuer. This Schedule 13D (the "Schedule 13D") is being filed with respect to the shares of common stock (the "Shares") of Move, Inc. a Delaware corporation (the "Company" or "MOVE"). Item 2. Identity and Background. This Schedule 13D is being filed by the following four limited partnerships (the "D3 Family Funds"), the following two corporations which are the sole general partners of the D3 Family Fund(s) indicated below (collectively, the "Reporting Persons") and the following individual who is the President of each of the two general partners. (a) The Reporting Persons are: The D3 Family Fund, L.P., a Washington limited partnership; The DIII Offshore Fund, L.P., a Bahamas limited partnership; The D3 Family Bulldog Fund, L.P. a Washington limited partnership; The D3 Family Canadian Fund, L.P., a Washington limited partnership; Nierenberg Investment Management Company, Inc., a Washington corporation ("NIMCO") which is the sole general partner of those D3 Family Funds organized under the law of the State of Washington; Nierenberg Investment Management Offshore, Inc., which is a wholly-owned subsidiary of NIMCO and is the sole general partner of the D3 Family Fund organized under the law of The Bahamas; and David Nierenberg, a United States citizen, who is the President of each of the two general partners. (b) The business address of each of the Reporting Persons is 19605 N.E. 8th Street, Camas, Washington 98607. (c) The D3 Family Funds are private investment partnerships, the principal business of which is investing in the equities of public micro-cap issuers. The principal business of the corporate Reporting Persons is to serve as the general partner of the applicable D3 Family Fund(s). Mr. Nierenberg's principal occupation is President of each of the two corporate Reporting Persons. (d, e) During the past five years, no Reporting Person has been convicted in a criminal proceeding, or been a party to a civil proceeding, required to be disclosed pursuant to Items 2(d) or (e) of Schedule 13D. (f) The citizenship of each of the Reporting Persons is set forth in paragraph (a) of this Item. Item 3. Source and Amount of Funds or Other Consideration. The total amount of funds used by the Reporting Persons to make all purchases of Shares beneficially owned by the Reporting Persons, as reported in Item 5(a,b) was $24,611,935. The source of funds for purchases of Shares by each of the Reporting Persons is the working capital of the applicable D3 Family Fund. 9 Item 4. Purpose of Transaction. Through the open market purchases of Shares listed in Item 5(c), the Reporting Persons have become the beneficial owners of more than 5% of the number of Shares reported by the Company to be outstanding as of February 25, 2008 in its Annual Report on Form 10-K dated February 28, 2008 and currently beneficially own the number of Shares listed in Item 5(a). The Reporting Person have been acquiring Shares as a long term investment because we believe that the Company's troubled past under prior management, the current bursting of the residential real estate bubble, and MOVE's large continuing losses in Welcome Wagon and Rentnet.com obscure the enormous current and potential value of MOVE's profitable core businesses. While acquiring our Shares, we had no agenda, nor any substantive comments to make in our initial Schedule 13D. However, MOVE's stunning and unexpected disclosure, in its press release on February 28, that its $129.9 million investment in auction rate securities is no longer liquid and may not be worth what MOVE paid for it, changed our plans. For the Company to have concentrated almost 75% of its cash in just one type of investment, for the Company to have lost the immediate use of that money, and for the Company to have apparently trusted the glib assurances of those who sold it the auction rate securities without performing MOVE's own independent due diligence or post-investment monitoring - all of this is totally unacceptable to us and precipitates these comments today. Losing the immediate use of this cash means, for example, that MOVE will only be able to repurchase a small fraction of its Shares - as opposed to one third of its Shares, as we would have wanted. Mistakes of this magnitude require corrective action by MOVE's Board of Directors. Although we already have conveyed our sentiments directly to two members of the Board, the magnitude of the error, and the urgency of fixing it, prompt us to bring our suggestions to the Board public today: 1. While the Board is justifiably grateful to MOVE's CEO and CFO for cleaning up the legacy of prior management's scandals, the auction rate preferred error was made by the current management team. We believe that the Board, therefore, should dismiss both the CEO and the CFO. We believe in personal accountability. To us it really is that simple. 2. The Company should immediately demand that those who sold MOVE the auction rate securities, and who presumably assured MOVE of their safety and soundness, should buy those securities back from MOVE now for 100 cents on the dollar, cash. Failing that, MOVE should aggressively assess and pursue all of its potential remedies. 10 3. The Board should consider what might have tempted its CFO and CEO to possibly consider trading off safety for yield. We are not asserting that this is what happened; rather, we are asking the Board to examine whether it may have happened, and, if so, to determine why. We offer up a possible hypothesis: perhaps because the Company's diversification strategy led it to lose most of the profit generated by its core business in the two unprofitable businesses referenced earlier, management may possibly have been tempted to earn a bottom line profit through interest earnings on the Company's cash. We offer a more focused solution: sell the money losing businesses for cash and, instead, redeploy the profits generated by the Company's core business into profitably growing the core. We believe the core has a bright future and vast growth potential. We hope that other MOVE shareholders will tell the Company's BOARD how they feel about the auction rate blunder. We are relatively new MOVE shareholders and we welcome comment from others who have a longer history with the Company. The previous statements by the Reporting Persons regarding their investment in MOVE represent solely their own analyses and judgments, based on publicly-available information and their own internal evaluation thereof. Those statements are not intended, and should not be relied on, as investment advice to any other investor or prospective investor. To the extent those statements reflect assessments of possible future developments, those assessments are inherently subject to the uncertainties associated with all assessments of future events; actual developments may materially differ as a result of circumstances affecting MOVE and/or extrinsic factors such as developments in the Company's industry and the economic environment. The Reporting Persons reserve the right to change their internal evaluation of this investment in the future, as well as to increase or decrease their investment depending on their evaluation, and to discuss the Company and their investment in it with the directors and executive officers of the Company and third parties, without further amending the Schedule 13D except as required by applicable rules. Item 5. Interest in Securities of the Issuer. (a, b) The Reporting Persons, in the aggregate, beneficially own 9,930,077 Shares, constituting approximately 6.6% of the outstanding Shares. (c) During the past sixty (60) days, the following purchases of Shares were made by the Reporting Persons in open market transactions: Fund Trade Date Shares Bought Price ---- ---------- ------------- ----- D3 Family Fund LP 01/10/2008 72,324 2.19 D3 Family Bulldog Fund LP 01/10/2008 271,800 2.19 D3 Family Canadian Fund LP 01/10/2008 14,130 2.19 DIII Offshore Fund LP 01/10/2008 41,000 2.19 D3 Family Fund LP 01/23/2008 21,005 1.83 D3 Family Bulldog Fund LP 01/23/2008 79,570 1.83 D3 Family Canadian Fund LP 01/23/2008 4,360 1.83 DIII Offshore Fund LP 01/23/2008 63,165 1.83 D3 Family Fund LP 01/24/2008 12,925 2.00 D3 Family Bulldog Fund LP 01/24/2008 50,760 2.00 D3 Family Canadian Fund LP 01/24/2008 2,655 2.00 DIII Offshore Fund LP 01/24/2008 14,860 2.00 11 D3 Family Fund LP 01/25/2008 25,500 2.15 D3 Family Bulldog Fund LP 01/25/2008 97,940 2.15 D3 Family Canadian Fund LP 01/25/2008 5,255 2.15 DIII Offshore Fund LP 01/25/2008 28,705 2.15 D3 Family Fund LP 01/28/2008 15,050 2.18 D3 Family Bulldog Fund LP 01/28/2008 52,040 2.18 D3 Family Canadian Fund LP 01/28/2008 2,620 2.18 DIII Offshore Fund LP 01/28/2008 15,290 2.18 D3 Family Fund LP 01/29/2008 115,340 2.36 D3 Family Bulldog Fund LP 01/29/2008 433,800 2.36 D3 Family Canadian Fund LP 01/29/2008 22,810 2.36 DIII Offshore Fund LP 01/29/2008 128,050 2.36 D3 Family Fund LP 01/30/2008 91,020 2.40 D3 Family Bulldog Fund LP 01/30/2008 341,010 2.40 D3 Family Canadian Fund LP 01/30/2008 17,840 2.40 DIII Offshore Fund LP 01/30/2008 100,130 2.40 D3 Family Fund LP 01/31/2008 100,000 2.36 D3 Family Bulldog Fund LP 01/31/2008 1,663,642 2.36 D3 Family Canadian Fund LP 01/31/2008 88,000 2.36 DIII Offshore Fund LP 01/31/2008 110,000 2.36 D3 Family Bulldog Fund LP 02/01/2008 200 2.35 D3 Family Fund LP 02/04/2008 71,529 2.59 D3 Family Fund LP 02/05/2008 100,929 2.50 DIII Offshore Fund LP 02/05/2008 20,000 2.50 DIII Offshore Fund LP 02/06/2008 150,000 2.50 D3 Family Fund LP 02/07/2008 50,000 2.47 DIII Offshore Fund LP 02/07/2008 85,000 2.47 DIII Offshore Fund LP 02/08/2008 100,000 2.50 D3 Family Fund LP 02/11/2008 140,000 2.50 D3 Family Bulldog Fund LP 02/11/2008 107,145 2.50 D3 Family Canadian Fund LP 02/11/2008 7,000 2.50 DIII Offshore Fund LP 02/11/2008 45,000 2.50 D3 Family Fund LP 02/12/2008 17,800 2.55 D3 Family Bulldog Fund LP 02/12/2008 118,000 2.55 D3 Family Canadian Fund LP 02/12/2008 6,600 2.55 DIII Offshore Fund LP 02/12/2008 57,600 2.55 D3 Family Fund LP 02/13/2008 48,200 2.60 D3 Family Bulldog Fund LP 02/13/2008 185,650 2.60 D3 Family Canadian Fund LP 02/13/2008 9,735 2.60 DIII Offshore Fund LP 02/13/2008 56,415 2.60 D3 Family Fund LP 02/14/2008 49,700 2.57 D3 Family Bulldog Fund LP 02/14/2008 160,100 2.57 D3 Family Canadian Fund LP 02/14/2008 8,515 2.57 DIII Offshore Fund LP 02/14/2008 57,659 2.57 D3 Family Fund LP 02/15/2008 44,150 2.51 D3 Family Bulldog Fund LP 02/15/2008 195,400 2.51 D3 Family Canadian Fund LP 02/15/2008 9,125 2.51 DIII Offshore Fund LP 02/15/2008 51,325 2.51 D3 Family Fund LP 02/19/2008 40,725 2.63 D3 Family Bulldog Fund LP 02/19/2008 155,500 2.63 D3 Family Canadian Fund LP 02/19/2008 8,335 2.63 DIII Offshore Fund LP 02/19/2008 45,440 2.63 12 D3 Family Fund LP 02/20/2008 24,560 2.73 D3 Family Bulldog Fund LP 02/20/2008 91,810 2.73 D3 Family Canadian Fund LP 02/20/2008 4,400 2.73 DIII Offshore Fund LP 02/20/2008 29,230 2.73 D3 Family Fund LP 02/21/2008 125,750 2.91 D3 Family Bulldog Fund LP 02/21/2008 483,850 2.91 D3 Family Canadian Fund LP 02/21/2008 25,540 2.91 DIII Offshore Fund LP 02/21/2008 144,860 2.91 D3 Family Fund LP 02/22/2008 56,280 2.75 D3 Family Bulldog Fund LP 02/22/2008 216,510 2.75 D3 Family Canadian Fund LP 02/22/2008 11,430 2.75 DIII Offshore Fund LP 02/22/2008 64,821 2.75 D3 Family Fund LP 02/25/2008 11,660 2.78 D3 Family Bulldog Fund LP 02/25/2008 41,530 2.78 D3 Family Canadian Fund LP 02/25/2008 2,630 2.78 DIII Offshore Fund LP 02/25/2008 14,654 2.78 D3 Family Fund LP 02/26/2008 7,700 2.90 D3 Family Bulldog Fund LP 02/26/2008 29,575 2.90 D3 Family Canadian Fund LP 02/26/2008 1,565 2.90 DIII Offshore Fund LP 02/26/2008 8,865 2.90 D3 Family Fund LP 02/27/2008 120,940 2.80 D3 Family Bulldog Fund LP 02/27/2008 465,050 2.80 D3 Family Canadian Fund LP 02/27/2008 24,590 2.80 DIII Offshore Fund LP 02/27/2008 139,420 2.80 D3 Family Fund LP 02/28/2008 28,630 2.73 D3 Family Bulldog Fund LP 02/28/2008 110,040 2.73 D3 Family Canadian Fund LP 02/28/2008 5,820 2.73 DIII Offshore Fund LP 02/28/2008 33,026 2.73 D3 Family Fund LP 02/29/2008 64,940 2.49 D3 Family Bulldog Fund LP 02/29/2008 218,560 2.49 D3 Family Canadian Fund LP 02/29/2008 6,840 2.49 DIII Offshore Fund LP 02/29/2008 59,660 2.49 D3 Family Fund LP 03/03/2008 56,970 2.42 D3 Family Bulldog Fund LP 03/03/2008 60,490 2.42 D3 Family Canadian Fund LP 03/03/2008 3,645 2.42 DIII Offshore Fund LP 03/03/2008 84,795 2.42 D3 Family Fund LP 03/04/2008 30,700 2.35 D3 Family Bulldog Fund LP 03/04/2008 114,200 2.35 D3 Family Canadian Fund LP 03/04/2008 5,950 2.35 DIII Offshore Fund LP 03/04/2008 35,484 2.35 D3 Family Fund LP 03/05/2008 17,440 2.42 D3 Family Bulldog Fund LP 03/05/2008 12,000 2.42 D3 Family Canadian Fund LP 03/05/2008 1,690 2.42 DIII Offshore Fund LP 03/05/2008 51,370 2.42 D3 Family Fund LP 03/06/2008 78,490 2.27 D3 Family Bulldog Fund LP 03/06/2008 289,230 2.27 D3 Family Canadian Fund LP 03/06/2008 15,140 2.27 DIII Offshore Fund LP 03/06/2008 92,374 2.27 13 Item 7. Material to be filed as Exhibits Exhibit 1 to this Schedule 13D is the Joint Filing Agreement among the Reporting Persons dated March 5, 2008 pursuant to which all of the Reporting Persons have authorized the filing of Schedule 13D's and amendments thereto as a group. 14 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, each of the undersigned certifies that the information set forth in the Statement is true, complete and correct. D3 Family Fund, L.P., D3 Family Bulldog Fund, L.P., and D3 Family Canadian Fund, L.P. By: Nierenberg Investment Management Company, Inc. Its: General Partner March 06, 2008 By: /s/ David Nierenberg - ------------------------- ------------------------------------------- David Nierenberg, President DIII Offshore Fund, L.P. By: Nierenberg Investment Management Offshore, Inc. Its: General Partner March 06, 2008 By: /s/ David Nierenberg - ------------------------- ------------------------------------------- David Nierenberg, President Nierenberg Investment Management Company, Inc. March 06, 2008 By: /s/ David Nierenberg - ------------------------- ------------------------------------------- David Nierenberg, President Nierenberg Investment Management Offshore, Inc. March 06, 2008 By: /s/ David Nierenberg - ------------------------- ------------------------------------------- David Nierenberg, President March 06, 2008 /s/ David Nierenberg - -------------------------- ------------------------------------------- David Nierenberg 15 EX-1 2 d73834_ex1.txt JOINT FILING AGREEMENT (RESTATED) EXHIBIT 1 JOINT FILING AGREEMENT (RESTATED) WHEREAS, the undersigned (collectively, the "Reporting Persons") from time to time make filings with the Securities and Exchange Commission pursuant to Regulation 13D-G under the Securities Exchange Act of 1934, as amended; and WHEREAS, the Reporting Persons prefer to make joint filings on behalf of all Reporting Persons rather than individual filings on behalf of each of the Reporting Persons; NOW, THEREFORE, the undersigned hereby agree as follows with each of the other Reporting Persons: 1. Each of the Reporting Persons is individually eligible to make joint filings. 2. Each of the Reporting Persons is responsible for timely making joint filings and any amendments thereto. 3. Each of the Reporting Persons is responsible for the completeness and accuracy of the information concerning such person contained in joint filings. 4. None of the Reporting Persons is responsible for the completeness or accuracy of the information concerning the other Reporting Persons contained in joint filings, unless such person knows or has reason to believe that such information is inaccurate. 5. This Joint Filing Agreement amends, restates and supersedes the Joint Filing Agreement (Restated) dated August 3, 2007 by and among certain of the undersigned, but only as to those filings to be made by all Reporting Persons. 16 6. The undersigned agree that each joint filing made on or after the date hereof will be, and any amendment thereto will be, made on behalf of each of the Reporting Persons. D3 Family Fund, L.P., D3 Family Bulldog Fund, L.P. and D3 Family Canadian Fund, L.P. By: Nierenberg Investment Management Company, Inc. Its: General Partner March 5, 2008 By: /s/ David Nierenberg ---------------------------- David Nierenberg, President DIII Offshore Fund, L.P. By: Nierenberg Investment Management Offshore, Inc. Its: General Partner March 5, 2008 By: /s/ David Nierenberg ---------------------------- David Nierenberg, President Nierenberg Investment Management Company, Inc. March 5, 2008 By: /s/ David Nierenberg ---------------------------- David Nierenberg, President Nierenberg Investment Management Offshore, Inc. March 5, 2008 By: /s/ David Nierenberg ---------------------------- David Nierenberg, President March 5, 2008 /s/ David Nierenberg ------------------------------- David Nierenberg 17 -----END PRIVACY-ENHANCED MESSAGE-----