Key Developments: Sycamore Networks Inc (SCMR.PK)

SCMR.PK on OTC Markets Group

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20 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Sycamore Networks Inc announces management change - Form 8-K
Monday, 23 Dec 2013 04:58pm EST 

Sycamore Networks Inc:Says on Dec 20, the board of directors of Sycamore Networks, Inc. approved the termination of the employment of Alan R. Cormier as Sycamore’s President, Chief Executive Officer and Secretary, effective as of that date.Says on Dec 20, the board appointed David Guerrera, Sycamore’s Associate Counsel, as President, General Counsel and Secretary of Sycamore, effective immediately following the departure of Cormier as President, Chief Executive Officer and Secretary on that date.  Full Article

Sycamore Networks Inc Announces Management Change-Form 8-K
Monday, 1 Apr 2013 04:05pm EDT 

Sycamore Networks Inc reported in its Form 8-K that on March 27, 2013, the Board also approved the termination of the employment of Paul F. Brauneis, Sycamore’s Vice President of Finance and Administration, Chief Financial Officer (CFO) and Treasurer, effective as of April 1, 2013, and Daniel E. Smith, Sycamore’s President and Chief Executive Officer (CEO), and Kevin J. Oye, Sycamore’s Vice President, Systems and Technology, in each case effective as of April 8, 2013. On March 27, 2013, the Board appointed Alan R. Cormier, Sycamore’s current General Counsel and Secretary, as the President and Chief Executive Officer (CEO) of Sycamore, effective immediately following the departure of Daniel E. Smith as President and Chief Executive Officer (CEO) on April 8, 2013. Also on March 27, 2013, the Board appointed Anthony Petrillo, Sycamore’s current Corporate Controller and Assistant Secretary, as Chief Financial Officer (CFO) and Treasurer, effective immediately following the departure of Paul F. Brauneis as Vice President of Finance and Administration, Chief Financial Officer (CFO) and Treasurer on April 1, 2013.  Full Article

Sycamore Networks Inc Announces Special Cash Distribution
Friday, 8 Feb 2013 06:55am EST 

Sycamore Networks Inc announced that Board of Directors approved a special cash distribution of $1.81 per share of common stock. The special cash distribution will be paid on February 28, 2013 to stockholders of record as of February 18, 2013. Given the amount of the special cash distribution, the Company expects that the ex-dividend date for the special cash distribution will be March 1, 2013, the day after the payment date for the special cash distribution.  Full Article

Sycamore Networks Inc Completes Sale Of Intelligent Bandwidth Management Business To Marlin Equity Partners
Friday, 1 Feb 2013 06:55am EST 

Sycamore Networks Inc announced sale of substantially all of assets related to Sycamore's Intelligent Bandwidth Management Business to a portfolio company of Marlin Equity Partners (Buyer) pursuant to and on the terms set forth in the Asset Purchase and Sale Agreement dated October 23, 2012 by and between Sycamore and Buyer. On January 31, 2013, the Company completed the sale of Intelligent Bandwidth Management Business, which includes the Company's optical networking and multiservice access products and related services and rights to the Sycamore name, to Buyer in exchange for a total purchase price of $18.75 million in cash and the assumption by Buyer of certain related liabilities. The Company will continue to use the name Sycamore Networks, Inc. as corporate name in connection with, and until the completion of, the liquidation and dissolution of the Company.  Full Article

Sycamore Partners mulls offer for apparel retailer Express

- Private equity firm Sycamore Partners on Thursday said it was interested in acquiring apparel retailer Express Inc , after disclosing a 9.9 percent stake that made it the largest shareholder in the company.

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