Fair Isaac shareholder advises company to consider a sale

By Lisa Kerner

Charlotte, N.C., June 29 - Fair Isaac Corp. shareholders led by Sandell Asset Management Corp. expressed support for company chief executive officer Mark N. Greene's efforts to improve the operating and financial performance of Fair Isaac.

However, Sandell urged the company's board of directors to monitor the progress of the turnaround, hold management to clearly defined milestones, continue to repurchase shares and immediately engage a financial adviser in consideration of a possible sale of the company.

Sandell made its recommendations in a letter to the company included as part of a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 2.874 million shares, or 5%, of the company's outstanding stock.

Minneapolis-based Fair Isaac provides analytic, software and data management products and services in four segments: strategy machine solutions, scoring solutions, professional services and analytic software tools.

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