Ramius-led investors buy shares of Tollgrade Communications

By Lisa Kerner

Charlotte, N.C., June 9 - Tollgrade Communications, Inc. investors led by Ramius LLC, Parche LLC and Starboard Value and Opportunity Master Fund, Ltd. reported the purchase of 849,121 shares of the company's stock.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were acquired between April 11 and June 9 priced from $4.34 to $5.62 per share.

The investors beneficially own 1,122,697 shares, or 8.5%, of the company's outstanding shares.

Tollgrade, based in Cheswick, Pa., designs, engineers, markets and supports test system and status monitoring hardware and software products for the U.S. telecommunications and cable industries.

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