SIMI VALLEY, Calif., June 14, 2012 /PRNewswire/ -- Qualstar Corporation (Nasdaq: QBAK) today responded to the communications coming from BKF Capital Group, which is attempting to take complete control of Qualstar's board with industry outsiders, including Steven Bronson, BKF's controlling shareholder and CEO.
In support of their take-over attempt, BKF and Bronson are omitting material facts and making inaccurate and misleading statements that are critical for shareholders to consider in making an informed decision in this proxy contest. We believe that once you read the information below, you will conclude that BKF and Bronson should not be trusted with your vote or with Qualstar's future.
BKF'S CLAIM REGARDING MR. BRONSON'S EXPERIENCE AT MIKRON
Even though Bronson spent only 9 months as CEO of Mikron Infrared Inc., back in 1999, he claims credit for its successful sale that occurred 8 years later, because he allegedly "installed" the management team that sold Mikron in 2007.THE FACTS: BKF failed to inform you that:
- Bronson sued Mikron in May 2003 when Mikron was controlled by the very management team Bronson now takes credit for installing during his brief stint in 1999, and whose accomplishments he now claims are his own. In response to Bronson's lawsuit, Mikron stated it did not believe Bronson's claims had any merit.
- Bronson sold most of his investment in Mikron by 2004, years before Mikron's sale in 2007.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts