Chap-Cap demands Vitesse hold stockholders' meeting

By Lisa Kerner

Charlotte, N.C., June 15 - Vitesse Semiconductor Corp. investors led by Chap-Cap Activist Partners Master Fund, Ltd. demanded that the company schedule a stockholders meeting for the purpose of electing directors. The company has not held an annual meeting since Jan. 24, 2006, according to a news release.

Chapman Capital, a Los Angeles-based investment adviser, purchased 5,985,808 shares of the company's stock between April 19 and June 14, priced between $1.04 and $1.23, a schedule 13D filing with the Securities and Exchange Commission stated.

The investor beneficially owns 6,953,061 shares, or 3.1%, of the company's outstanding stock.

Vitesse is a Camarillo, Calif.-based designer, developer and marketer of semiconductor services for communications and storage networks.

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