Two fire fighting measures to signal an altered impression.
Buying back some shares. Getting a billionaire to go public on his holding. Just desperate.
If you Google Panini Keypad and Luna Ergonomics, look in youtube, you will know that this company will not earn a penny from its mobility here after. No one is paying them the old prices for their rags any longer, hence the reduced earnings, while phones by their customers have sold more than before. Its over now.
I don't think Nuan invited Icahn into the game. Carl looks for distressed opportunities where he can pressure the company to sell itself or go private. He has been very successful at it for quite some time. Obviously he sees value here or he wouldn't have quietly taken such a large position. With earnings coming in a couple of weeks, I expect we will hear from CI. He doesn't like to lose money, so if Nuan disappoints, I expect him to go public with his desires for the company. Since Icahn employs many extremely intelligent advisors, he apparently has come to a very different assesment of Nuan's value and potential than you have. You may be a smart investor, but I am placing my bet with CI. His track record has made him very wealthy.