SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )
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|_| Preliminary Proxy Statement
|_| Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
|_| Definitive Proxy Statement
|_| Definitive Additional Materials
|X| Soliciting Material under Rule 14a-12
Forgent Networks, Inc.
108 Wild Basin Road, Austin, Texas 78746
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
The Red Oak Fund, LP, a Delaware limited partnership;
Pinnacle Fund, LLLP, a Colorado limited liability limited partnership;
Bear Market Opportunity Fund, L.P., a Delaware limited partnership;
Pinnacle Partners, LLC, a Colorado limited liability company;
Red Oak Partners, LLC, a New York limited liability company;
David Sandberg.
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GLASS LEWIS RECOMMENDS THAT FORGENT NETWORKS (ASUR) SHAREHOLDERS VOTE AGAINST
THE COMPANY'S GO-PRIVATE PROPOSALS
PINNACLE FUND FILES DEFINITIVE PROXY STATEMENT
IN OPPOSITION TO MANAGEMENT OF FORGENT NETWORKS
NEW YORK, NY, May 28, 2009 - Pinnacle Fund (controlled by Pinnacle Partners,
LLC which is controlled by Red Oak Partners, LLC) announced today that Glass
Lewis & Co, a leading independent proxy voting advisory firm, has also
recommended that shareholders of Forgent Networks, Inc., doing business as
Asure Software, Inc. (NASDAQ:ASUR) vote AGAINST Asure's proposals to take the
company private through a reverse/forward stock split.
In recommending against the reverse stock split Glass Lewis stated "we feel
this proposal is detrimental to the larger institutional shareholders because
they will be left with a stake in a private company in which they can no
longer easily gain access to the Company's financials and other information,
in addition to no longer being able to trade their shares."
Pinnacle Fund also announced today that it has filed its definitive proxy
statement with the Securities and Exchange Commission. Pinnacle asks Asure's
shareholders to thoroughly read the definitive proxy statement as it contains
important information about the Company's going private transactions
"We are gratified that both Glass Lewis and RiskMetrics support us in our
opposition to management's going private transaction' said David Sandberg,
Portfolio Manager of the Pinnacle Fund. "We are opposing the Go-Private
Proposals because taking Asure private is likely to result in severely limited
liquidity for remaining shareholders; the benefits claimed by the Company from
implementing this proposal can for the most part be obtained without depriving
stockholders of a public market; and paying out $0.36 per share only to
certain shareholders is wasteful and unfair."
MacKenzie Partners, Inc is assisting Pinnacle Fund with its efforts to solicit
proxies against the going private proposals. Asure shareholders who have
questions about voting their shares may call MacKenzie Partners at
800-322-2885 or 212-929-5500 (call collect). Copies of the Pinnacle Fund
definitive proxy statement are available on www.ourmaterials.com/pinnaclefund.
Pinnacle Fund's materials may also be found on the SEC's website www.sec.gov.
Important Information
Pinnacle Fund, LLLP ("Pinnacle") filed a definitive proxy statement with the
Securities and Exchange Commission on May 28, 2009, in connection with Forgent
Networks, Inc.'s special meeting of stockholders to be held on June 2, 2009.
Stockholders are strongly advised to carefully read Pinnacle's definitive
proxy statement, as it contains important information. Pinnacle and certain
other persons are deemed participants in the solicitation of proxies from
stockholders in connection with the special meeting of stockholders.
Information concerning such participants is available in Pinnacle's definitive
proxy statement. Stockholders may obtain, free of charge, copies of
Pinnacle's definitive proxy statement and any other documents Pinnacle files
with or furnishes to the Securities and Exchange Commission in connection with
the special meeting of stockholders through the Securities and Exchange
Commission's website at www.sec.gov, and through the following website:
www.ourmaterials.com/pinnaclefund.