Chap-Cap ends Vitesse campaign, claims victory

Tacoma, Wash., Dec. 6 - Vitesse Semiconductor Corp. investors led by Chap-Cap Activist Partners Master Fund, Ltd. said they no longer believe they will need to seek change or influence control of the company.

They said previous actions "have catalyzed the issuer's management and board of directors to explore strategic alternatives and improve corporate governance," according to a schedule 13D filing with the Securities and Exchange Commission.

Chap-Cap currently owns 15,613,156 shares, or 7%, of the Camarillo, Calif., semiconductor solution development company.

The investor has been running a long campaign to encourage change at Vitesse, including campaigning against the board and chief financial officer.

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