Tessera Technologies Inc. (TSRA) issued a letter to stockholders in connection with the company's 2013 Annual Meeting. In the letter, the company reiterated the core elements of its plan to deliver value for stockholders by focusing on enhancing and effectively monetizing its intellectual property portfolio of advanced technology.
Tessera believes its directors are far more qualified and experienced to lead the company through the next phase of growth than the nominees proposed by a dissident stockholder. The company said the dissident stockholder's strategic plan combined with their lack of familiarity and experience with certain of Tessera's major customers that are currently well into license renewal negotiations would expose stockholders to material downside risk in the near-term.
For comments and feedback: editorial@rttnews.com