Packeteer will not discuss hiring investment bank, shareholder says

By Lisa Kerner

Charlotte, N.C., July 30 - Packeteer, Inc. investor Robert L. Chapman, Jr., an affiliate of Chapman Capital LLC and holding a 9.9% stake in the company, has been unable to reach chief executive officer David G. Cote, according to a schedule 13D filing with the Securities and Exchange Commission.

Chapman wants to demand that Packeteer "hire an investment bank to maximize shareholder value" as well as report his 9.9% ownership.

In addition to Cote's refusal to return Chapman's call, chief financial officer David C. Yntema refused "to record a written message" for Cote regarding Chapman's demand or to give Cote such a message, Chapman said.

According to the filing, "Yntema stated that Cote would not be returning Mr. Chapman's telephone call at any time in the future."

Packeteer chairman Steven J. Campbell also refused to provide his e-mail address, Chapman said.

Based in Cupertino, Calif., Packeteer provides wide area network (WAN) application delivery systems to enterprise customers and service providers.

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