Sandell Calls For Immediate Amendment Of JDS Uniphase's Bylaws - Quick Facts

(RTTNews) - Sandell Asset Management Corp. called for the immediate amendment of JDS Uniphase Corp.'s (JDSU) Bylaws to remedy changes made in May 2014 that were detrimental to shareholder rights.

In a letter, Sandell reiterated need for JDSU to pursue further strategic actions to maximize shareholder value.

"The continued existence of what we believe are the Company's improper Bylaws is an even greater concern given the continued refusal of JDSU to pursue additional strategic alternatives to maximize shareholder value, including conducting a formal sale process for the CCOP business," Sandell said.

Based on very recent discussions with industry participants, Sandell said it is highly confident that there are parties interested in acquiring the Company's CCOP business in an expeditious manner. It is thus paramount that JDSU open a comprehensive data room so that interested parties may conduct due diligence as soon as possible.