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Prescott Group reports 5.3% ownership interest in MRV Communications
By Angela McDaniels
Tacoma, Wash., July 14 - MRV Communications, Inc. investors led by Prescott Group Capital Management, LLC beneficially own 8,352,108 shares of the company's stock.
The investors spent $7.74 million to purchase the 5.3% stake, including brokerage commissions.
They purchased the shares based on the belief that they were undervalued and represented an attractive investment opportunity, according to a schedule 13D filing with the Securities and Exchange Commission.
The investors said they may engage in communications with shareholders, officers and/or board members regarding ideas that, if effected, may result in the acquisition of additional stock, an extraordinary corporate transaction or changes in the board of directors or management.
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