Adaptec confirms Steel Partners received requisite number of consents

By Lisa Kerner

Charlotte, N.C., Nov. 9 - The voting results of Adaptec, Inc.'s Nov. 2 special meeting have been certified by IVS Associates, Inc., according to a form 8-K filed with the Securities and Exchange Commission.

Steel Partners II, LP did receive the needed amount of written consents from stockholders to pass its three proposals, the voting results confirmed.

The three proposals, which took effect Oct. 30, were to:

• Remove Adaptec chief executive officer S. "Sundi" Sundaresh and Robert J. Loarie from the board of directors;

• Reduce the Adaptec board to seven members from nine; and

• Repeal any provision of the company's bylaws in effect on the effective date that was not included in the bylaws that became effective on May 6, 2009 and were filed with the SEC on May 12.

Joseph Kennedy resigned as chairman of the Milpitas, Calif., data storage company effective Nov. 4, the form 8-K filing said.

Adaptec has also canceled its 2009 annual meeting that was scheduled for Tuesday.

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