BizJournals has the story InFocus makes digital projectors:
An activist investor has joined the board of InFocus Corp.
The announcement comes roughly two months after a group of Portland technology executives announced a plan to buy InFocus in order to prevent a fire-sale liquidation of the company. The executives said the company’s strong cash position makes it a target for “New York sharks.”
It’s unclear if the executives have made an offer to buy the company.
On Tuesday, the company announced the addition of Michael Nery to its board. Nery runs Asheville, N.C.-based Nery Capital Partners LP, which owned 12.2 percent, or nearly 5 million shares, of Wilsonville-based InFocus (NASDAQ: INFS) at the end of December.
In a November filing with the Securities and Exchange Commission, Nery said his firm purchased the shares because they were an “attractive investment opportunity.” He also said his firm could seek a change in the company’s ownership structure if the company’s performance did not improve.
InFocus is trading at an all-time low of 30 cents per share, giving it a market valuation of less than $12.1 million, far below its year-end cash balance of $33.4 million.