Tollgrade shareholders elect all three of Ramius' director nominees

By Lisa Kerner

Charlotte, N.C., Aug. 5 - Tollgrade Communications, Inc. stockholders re-elected incumbent directors Joseph A. Ferrara and Charles E. Hoffman and elected Ramius LLC nominees Jeffrey M. Solomon, Edward B. Meyercord III and Scott C. Chandler at a special meeting on Wednesday.

The election results are preliminary, with final results due early next week, according to Tollgrade.

As previously reported, Chandler founded a telecom consulting practice in 2001. Meyercord was most recently president, chief executive officer and director of privately held Cavalier Telecom. Solomon is a managing member of Ramius.

Tollgrade's eight-member board of directors also includes Richard H. Heibel, M.D., Edward H. Kennedy and lead independent director Robert W. Kampmeinert.

Daniel P. Barry, Tollgrade's former chairman, is retiring, the company said.

Stockholders also voted to ratify the appointment of PricewaterhouseCoopers LLP as Tollgrade's independent registered public accounting firm and to approve an amendment to the company's 2006 long-term incentive compensation plan.

Cheswick, Pa.-based Tollgrade makes test system and status-monitoring hardware and software products for the U.S. telecommunications and cable industries.

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