HOLY JEEBUZ!!! It just seems like they keep making up new rules in mid-stream. They can do this endlessly it appears and it is all legal(?)... Oh, my sweet lord (George Harrison) this is a never ending life in purgatory!!! )o:
"Separately, ModusLink also announced today that its Board of Directors has determined to grant Evermore Global Advisors an exemption to the Company's Tax Benefit Preservation Plan, pursuant to Section 28 of the plan. This exemption allows Evermore Global Advisors, which currently owns approximately 0.8 percent of ModusLink's outstanding shares, to purchase in the open market additional shares up to an amount that would result in Evermore Global Advisors owning an aggregate of approximately 7.49 percent of the Company's outstanding shares."
this should help in the long term, It was adopted unanimously by the BOD including dissident board members. Hold on to your shares because things are heating up. Though this could take up to full year (I still think it will happen faster given that SEC will start looking into what is going on)