Brener International unhappy with TranSwitch's stalled share repurchase program

By Lisa Kerner

Charlotte, N.C., May 14 - TranSwitch Corp. shareholder Brener International Group, disappointed with the company's May 6 earnings call, said "management continues to lack any plan to boost the company's stock price and, generally, seems to lack business acumen."

Gabriel Brener made the remarks in a letter to TranSwitch's board of directors included as part of a schedule 13D filing with the Securities and Exchange Commission.

Even though TranSwitch reported more than $30 million in cash, Brener called the pace of the company's stock purchase program "anemic."

The investor urged TranSwitch to engage in "meaningful repurchases" of the company's stock.

According to Brener, TranSwitch is hoping shareholders will buy more stock while at the same time seeking their approval for a reverse stock split.

Management is also failing to get TranSwitch's story out to investors, the filing said.

Brener advised the company to take a more businesslike approach to its research and development, spending when the result will be revenues rather than design wins.

TranSwitch develops integrated semiconductor devices for telecommunications and data communications markets. The company is located in Shelton, Conn.

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