"1. We are not convinced that the dissidents' nominees would work to the benefit of the shareholders given their level of industry expertise, public company experience and diversity. "2. We believe that the Company's ongoing strategies should enhance long-term shareholder value. "3. We believe that removal of all of the current members of Qualstar's Board, including Lawrence Firestone, who was recently appointed as Qualstar's CEO, will disrupt the Company's ongoing efforts to implement new growth initiatives designed to return the Company to sustained profitability.""We are pleased that Egan-Jones has joined Glass Lewis in its recommendation that shareholders vote against BKF," said Lawrence Firestone, Qualstar's CEO. "The Board unanimously believes that the execution of the strategic plan to restore Qualstar to profitability that is already underway offers the greatest value to all Qualstar shareholders. The Board urges shareholders to follow the advice of Egan Jones and Glass Lewis and reject BKF's disruptive action and allow the turnaround to proceed as planned." The Qualstar Board of Directors urges shareholders to vote AGAINST the BKF proposal to remove the current directors on the WHITE proxy card today. Qualstar's Special Meeting of Shareholders is scheduled for Wednesday, June 20, 2012 at 10:00 a.m., local time, at the company's headquarters located at 3990-B Heritage Oak Court, Simi Valley, California 93603. Shareholders of record as of May 23, 2012 will be entitled to vote at the Meeting. If shareholders have any questions or need assistance voting their shares, please contact MacKenzie Partners, Inc., our proxy solicitor, toll free at (800) 322-2885 or (212) 929-5500 (call collect) or at email@example.com. About Qualstar Corporation: Qualstar, founded in 1984, is a diversified electronics manufacturer specializing in data storage and power supplies. The company's products are known throughout the world for high quality and Simply Reliable designs that provide years of trouble-free service. More information is available at www.qualstar.com or www.n2power.com.  Permission for quotations was neither sought nor obtained.
Egan-Jones Joins Glass Lewis In Recommending That Qualstar Shareholders Vote Against BKF's Attempt To Seize Control Of The Company
Check Out Our Best Services for Investors
Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.
- $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
David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.