Factiva Article About Violation

DJ Officer HIRSHBERG Sells 62,564 Of ACTIVISION BLIZZARD INC >ATVI
109 words
15 August 2013
02:30
Dow Jones Newswires
DJDN
English
Copyright (c) 2013, Dow Jones & Company, Inc.
SOURCE: Form 4
ISSUER:
ACTIVISION BLIZZARD INC
SYMBOL: ATVI
FILER: HIRSHBERG ERIC

TITLE: Officer
DATE TRANSACTION SHARES PRICE VALUE

8/12/13 Sale 62,564 $17.16 $1,073,811
OWNERSHIP: 0 (Direct) 58,088 (Indirect)
The Form 4 is filed with the Securities and Exchange Commission by insiders
to report transactions in their companies' shares. Open market purchases
and sales must be reported within two business days of the transaction.
Insider Data Source: The Washington Service

(info@washingtonservice.com or 301-913-5100)
(END) Dow Jones Newswires
August 14, 2013 21:30 ET (01:30 GMT)
Document DJDN000020130815e98f00051
Page 1 of 158 © 2023 Factiva, Inc. All rights reserved.

DJ Officer WEREB Registers 30,478 Of ACTIVISION BLIZZARD INC >ATVI
129 words
14 August 2013
04:11
Dow Jones Newswires
DJDN
English
SOURCE: Form 144
ISSUER:
SYMBOL: ATVI
FILER: WEREB STEPHEN G

TITLE: Officer
BROKER: MORGAN STANLEY SMITH BARNEY LLC
RESTRICTED SHARES TO SELL: 30,478 DATE REGISTERED: 8/12/2013
APPROXIMATE DATE OF SALE: 8/5/2013
The Form 144 is filed with the Securities and Exchange Commission to
reflect the intention of any holder of restricted stock to sell those
shares. After the 144 is mailed to the S.E.C., the filer is permitted
to sell the shares, or any fraction of them, within 90 days.
Form 144 Data Source: The Washington Service

August 13, 2013 23:11 ET (03:11 GMT)
Document DJDN000020130814e98e000xz

DJ COO TIPPL Sells 1,318,747 Of ACTIVISION BLIZZARD INC >ATVI
148 words
14 August 2013
00:14
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: TIPPL THOMAS

TITLE: Chief Operating Officer

8/9/13-8/13/13 Exercise* 837,605 $7.53 $6,305,993
8/9/13-8/13/13 Sale 1,318,747 $17.27 $22,779,640
OWNERSHIP: 30,000 (Indirect)
* - 757,605 shares exercised 2 years, 1 month before expiration.

80,000 shares exercised 2 years, 8 months before expiration.

August 13, 2013 19:14 ET (23:14 GMT)
Document DJDN000020130813e98d006ce

128 words
10 August 2013
03:20
Dow Jones Newswires
DJDN
English
SOURCE: Form 144
ISSUER:
SYMBOL: ATVI

TITLE: Officer
BROKER: E-TRADE SECURITIES LLC

August 09, 2013 22:20 ET (02:20 GMT)
Document DJDN000020130810e98a00043

128 words
8 August 2013
03:33
Dow Jones Newswires
DJDN
English
SOURCE: Form 144
ISSUER:
SYMBOL: ATVI

TITLE: Officer
BROKER: E-TRADE SECURITIES LLC

August 07, 2013 22:33 ET (02:33 GMT)
Document DJDN000020130808e988000fg

DJ Officer WEREB Sells 185,876 Of ACTIVISION BLIZZARD INC >ATVI
151 words
8 August 2013
02:08
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI

TITLE: Officer

8/5/13-8/7/13 Sale 185,876 $17.53 $3,258,722
8/7/13 Exercise* 140,834 $11.49 $1,618,323
OWNERSHIP: 0 (Direct)
* - 103,334 shares exercised 7 years, 3 months before expiration.


August 07, 2013 21:08 ET (01:08 GMT)
Document DJDN000020130808e9880004l

DJ COO TIPPL Sells 273,507 Of ACTIVISION BLIZZARD INC >ATVI
146 words
8 August 2013
01:58
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: TIPPL THOMAS

TITLE: Chief Operating Officer

8/5/13-8/6/13 Exercise* 273,507 $7.61 $2,080,021
8/5/13-8/6/13 Sale 273,507 $17.77 $4,860,274
OWNERSHIP: 511,142 (Indirect)
* - 226,782 shares exercised 2 years, 2 months before expiration.

46,725 shares exercised 2 years, 1 month before expiration.

August 07, 2013 20:58 ET (00:58 GMT)
Document DJDN000020130808e9880001j

DJ Chmn KELLY Acquires 7,813 Of ACTIVISION BLIZZARD INC >ATVI
148 words
6 August 2013
00:56
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: KELLY BRIAN G

TITLE: Chairman of the Board

8/1/13 Surrender* 9,872 $18.20 $179,621
NET ACQUIRED 7,813
8/1/13 Exercise 17,685 $0.00 N/A
OWNERSHIP: 2,056,597 (Direct) 1,287,176 (Indirect)
* - Insiders can surrender shares back to the company to pay taxes or cover
the cost of an option exercise.

August 05, 2013 19:56 ET (23:56 GMT)
Document DJDN000020130805e9850066j

DJ CEO KOTICK Surrenders 17,924 Of ACTIVISION BLIZZARD INC >ATVI
131 words
6 August 2013
00:58
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: KOTICK ROBERT A

TITLE: Chief Executive Officer

8/1/13 Surrender* 17,924 $18.20 $326,127
OWNERSHIP: 928,955 (Direct) 9,600 (Indirect)

August 05, 2013 19:58 ET (23:58 GMT)
Document DJDN000020130805e9850064m

148 words
4 July 2013
02:21
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI


7/1/13 Surrender* 9,872 $14.28 $140,972
NET ACQUIRED 7,813
7/1/13 Exercise 17,685 $0.00 N/A
OWNERSHIP: 2,056,597 (Direct) 1,297,048 (Indirect)

July 03, 2013 21:21 ET (01:21 GMT)
Document DJDN000020130704e9740006h

DJ Officer WEREB Acquires 14,564 Of ACTIVISION BLIZZARD INC >ATVI-Amended
144 words
3 July 2013
01:46
Dow Jones Newswires
DJDN
English
SOURCE: Form 4/A (Amended Filing)
ISSUER:
SYMBOL: ATVI

TITLE: Officer

6/29/13 Surrender* 8,769 $14.26 $125,046
NET ACQUIRED 14,564
6/29/13 Exercise 23,333 $0.00 N/A
OWNERSHIP: 113,899 (Direct)

July 02, 2013 20:46 ET (00:46 GMT)
Document DJDN000020130703e9730006u

DJ Officer WEREB Acquires 14,564 Of ACTIVISION BLIZZARD INC >ATVI
140 words
2 July 2013
23:05
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI

TITLE: Officer

6/29/13 Surrender* 8,769 $11.99 $105,140
NET ACQUIRED 14,564
6/29/13 Exercise 23,333 $0.00 N/A

July 02, 2013 18:05 ET (22:05 GMT)
Document DJDN000020130702e972005si

146 words
5 June 2013
00:01
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI


6/1/13 Surrender* 9,872 $14.43 $142,453
NET ACQUIRED 7,813
6/1/13 Exercise 17,685 $0.00 N/A

June 04, 2013 19:01 ET (23:01 GMT)
Document DJDN000020130604e964006o2

146 words
4 May 2013
00:27
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI


5/1/13 Surrender* 9,872 $14.74 $145,513
NET ACQUIRED 7,813
5/1/13 Exercise 17,685 $0.00 N/A

May 03, 2013 19:27 ET (23:27 GMT)
Document DJDN000020130503e953007iu

DJ CFA Substantial Insider Sales: Morning Report
1,380 words
1 May 2013
13:44
Dow Jones Institutional News
DJDN
English
Copyright © 2013, Dow Jones & Company, Inc.
____________________________________________________________________________
The following is a list of insider sales with a total value of at

least $250,000 reported to the Securities and Exchange Commission late
Tuesday and early Wednesday.
Company - (Symbol) Security

Insider Date(s) Shares Price Holdings
____________________________________________________________________________
ACTIVISION BLIZZARD INC (ATVI)

Kotick Robert A (CEO) 4/26/13 34,350 $14.82 853,429
ACURA PHARMACEUTICALS INC (ACUR)

Care Capital II LLC (SH) 4/26/13-4/30/13 351,000 $2.53 7,909,067
AFC ENTERPRISES INC (AFCE)

Bachelder Cheryl A (CEO) 4/29/13 10,333 $32.77 174,006
AMERICAN PACIFIC CORP (APFC)

Gibson Fred D Jr (SH) 4/24/13-4/30/13 30,818 $24.40 277,144
AMERICAN PUBLIC EDUCATION INC (APEI)

*Weglicki Timothy T (D) 4/25/13 18,100 $34.01 383,835
*Weglicki Timothy T (D) 4/2/13-4/4/13 42,700 $34.73 405,935
AMGEN INC (AMGN)

Mcnamee Brian M (VP) 4/26/13-4/29/13 20,000 $107.50 17,182
AMSURG CORP (AMSG)

Eastridge Kevin Delo (VP) 4/26/13 15,000 $33.60 45,462
BERRY PLASTICS GROUP INC (BERY)

Kratochvil Jim M (CFO) 4/26/13 152,342 $18.03 681,048
BOYD GAMING CORP (BYD)

Boyd William R (OD) 4/29/13 37,446 $11.71 2,129,215
Larson Brian A (VP) 4/26/13 57,435 $11.42 128,511
BRUNSWICK CORP (BC)

Belec Anne E (D) 4/26/13 10,000 $33.46 17,277
CARMAX INC (KMX)

Margolin Eric M (VP) 4/29/13 20,000 $45.10 20,390
CITRIX SYSTEMS INC (CTXS)

Templeton Mark B (CEO) 4/26/13 104,839 $62.07 317,147
CONN'S INC (CONN)

Jacoby Jon E M (D) 4/26/13 6,926 $44.87 782,138
DEMANDWARE INC (DWRE)

Barnett Jeffrey G (COO) 4/29/13 10,083 $27.00 106,157
DESTINATION MATERNITY CORP (DEST)

Krell Edward M (CEO) 4/26/13-4/29/13 89,206 $23.40 95,076
DILIGENT BOARD MEMBER SVCS INC (DLBDF)

Sodi Alessandro (CEO) 8/16/12 85,610 $3.09 2,125,358
Sodi Alessandro (CEO) 6/1/10 949,626 $0.26 2,842,897
DISH NETWORK CORP (DISH) CL A

Han Bernard L (COO) 4/26/13 39,243 $40.24 7,121
DOMINION RESOURCES INC/VA (D)

Christian David A (O) 4/29/13 30,000 $61.22 124,749
DU PONT (E I) DE NEMOURS (DD)

Connelly Thomas M Jr (VP) 4/26/13 73,467 $52.93 178,639
Sager Thomas L (VP) 4/26/13 7,654 $52.02 48,118
DUNKIN' BRANDS GROUP INC (DNKN)

Costello John H (O) 4/26/13 35,000 $38.53 22,432
Emmett Richard J (VP) 4/26/13 15,000 $38.46 2,500
Minardi Giorgio (O) 4/26/13 38,000 $38.36 0
Travis Nigel (CEO) 4/26/13 100,000 $38.47 124,377
Twohig Paul E (O) 4/26/13 33,783 $38.53 48,047
EMC CORP (EMC)

Coviello Arthur W Jr (O) 4/26/13 30,000 $22.44 384,466
FAMILY DOLLAR STORES (FDO)

Garden Edward P (D) 4/26/13-4/29/13 79,600 $62.90 8,364,997
H&E EQUIPMENT SERVICES INC (HEES)

Engquist John (CEO) 4/29/13-4/30/13 22,068 $20.22 3,616,562
HANESBRANDS INC (HBI)

Chaden Lee A (D) 4/29/13 37,412 $49.52 34,527
Nictakis William J (COO) 4/29/13 34,512 $49.49 235,557
HEALTHSTREAM INC (HSTM)

Sousa Michael (VP) 4/26/13 29,037 $22.57 38,476
HERTZ GLOBAL HOLDINGS INC (HTZ)

Sider Scott P (O) 4/26/13 34,086 $24.00 87,034
Taride Michel (O) 4/26/13 200,000 $24.11 121,067
IMPERVA INC (IMPV)

Shulman Amichai (O) 4/29/13-4/30/13 20,000 $39.13 304,140
INTEGRYS ENERGY GROUP INC (TEG)

Radtke Mark A (VP) 4/29/13 7,196 $61.47 28,266
INTERNATIONAL RECTIFIER CORP (IRF)

Barrow Michael (COO) 4/30/13 22,500 $20.51 14,566
Khaykin Oleg (CEO) 4/29/13 166,000 $19.55 148,567
IROBOT CORP (IRBT)

Chwang Ronald (D) 4/26/13-4/30/13 20,000 $28.54 345,450
Gansler Jacques S (D) 4/29/13 10,000 $28.28 9,640
Mcnamee George C (D) 4/29/13 10,000 $28.50 77,880
KBR INC (KBR)

Utt William P (CB) 4/26/13 8,709 $30.00 48,875
KIMBERLY-CLARK CORP (KMB)
Palmer Anthony J (O) 4/26/13-4/29/13 20,251 $103.39 10,234
L-3 COMMUNICATIONS HOLDINGS INC (LLL)

Cody Richard A (VP) 4/29/13 4,621 $80.93 7,100
Mega John S (VP) 4/29/13 3,478 $81.05 15,937
LENNAR CORP (LENB) CL A

Beckwitt Richard (P) 4/26/13 29,187 $42.58 964,234
LORILLARD INC (LO)

Lewis Houghton (T) 4/29/13 9,645 $43.03 34,723
Milstein Ronald S (VP) 4/26/13-4/29/13 37,713 $42.89 76,596
MANHATTAN ASSOCIATES INC (MANH)

Sinisgalli Peter F (D) 4/26/13 3,750 $68.83 36,920
MSC INDUSTRIAL DIRECT CO (MSM) CL A

Jacobson Mitchell (CB) 4/26/13-4/30/13 38,100 $78.61 318,665
NANOMETRICS INC (NANO)

Coates Norman V (D) 4/29/13-4/30/13 50,405 $14.03 82,975
NATIONAL INSTRUMENTS CORP (NATI)

Kodosky Jeffrey L (D) 4/29/13 12,000 $26.99 2,338,361
NEOGEN CORP (NEOG)

Bradley Edward L (VP) 4/29/13 7,148 $50.36 121,687
NETFLIX INC (NFLX)

Battle A George (D) 4/29/13 4,537 $216.19 13,500
Battle A George (D) 4/29/13 19,463 $214.90 8,000
NIKE INC (NKE) CL B

Pliska Bernard F (VP) 4/29/13 20,000 $62.50 27,038
PHILIP MORRIS INTERNATIONAL INC (PM)

Kuepfer Marco (T) 4/26/13 10,000 $95.21 166,830
Psotta Joachim (VP) 4/29/13 6,300 $95.55 147,557
POLARIS INDUSTRIES INC (PII)

Bogart Stacy L (VP) 4/26/13 14,700 $86.34 30,191
PRAXAIR INC (PX)

Sawyer James S (CFO) 4/26/13 38,099 $112.85 33,744
PROLOGIS INC (PLD)

Skelton Jeffrey L (D) 4/29/13 13,725 $41.68 28,977
QUALCOMM INC (QCOM)

Grob Matthew S (VP) 4/29/13 5,300 $61.80 2,164
RELIANCE STEEL & ALUMINUM CO (RS)

Tenenbaum Sheldon U (VP) 4/29/13 8,000 $64.25 13,805
SALESFORCE.COM INC (CRM)

Harris G Parker (O) 4/30/13 14,680 $41.18 2,028,473
SCANSOURCE INC (SCSC)

Baur Michael L (CEO) 4/26/13-4/29/13 19,488 $28.00 101,783
SHUTTERFLY INC (SFLY)

Housenbold Jeffrey T (CEO 4/26/13-4/30/13 35,403 $45.18 460,047
SIGMA-ALDRICH CORP (SIAL)

Miller Karen J (VP) 4/29/13 6,273 $78.33 14,812
STEWART INFORMATION SERVICES (STC)

Morris Malcolm S (OD) 4/26/13-4/30/13 25,000 $27.41 88,104
SYNAPTICS INC (SYNA)

Wong Hing Chung Alex (VP) 4/26/13 8,200 $44.61 15,694
UNITED CONTINENTAL HOLDINGS INC (UAL)

Meyer Henry L III (D) 4/29/13 10,500 $32.07 7,676
1 May 2013 08:44 EDT DJ CFA Substantial Insider Sales: Morning Report -2-

____________________________________________________________________________
US BANCORP (USB)
Parker P W (VP) 4/29/13 20,074 $33.28 129,037
WELLPOINT INC (WLP)

Jobe Warren Y (D) 4/26/13 3,920 $73.50 7,734
* = Amended Filing
____________________________________________________________________________
KEY TO INSIDERS' TITLES
CB Chairman of the Board O Officer
P President OS Officer of Subsidiary
CEO Chief Executive Officer D Director
CFO Chief Financial Officer T Treasurer
COO Chief Operating Officer VP Vice President
OD Officer and Director SH Shareholder/Beneficial Owner/Other
DO Divisional Officer
____________________________________________________________________________
Data Provided By The Washington Service (301) 913-5100.
May 01, 2013 08:44 ET (12:44 GMT)
Document DJDN000020130501e9510036q

DJ CEO KOTICK Sells 34,350 Of ACTIVISION BLIZZARD INC >ATVI
111 words
1 May 2013
01:06
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: KOTICK ROBERT A

TITLE: Chief Executive Officer

4/26/13 Sale 34,350 $14.82 $509,067
OWNERSHIP: 0 (Direct) 9,600 (Indirect)

April 30, 2013 20:06 ET (00:06 GMT)
Document DJDN000020130501e9510005w

154 words
3 April 2013
00:46
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI


3/31/13-4/1/13 Surrender* 242,308 $14.56 $3,529,143
NET ACQUIRED 191,776
3/31/13-4/1/13 Exercise 434,084 $0.00 N/A
OWNERSHIP: 2,056,597 (Direct) 636,949 (Indirect)

April 02, 2013 19:46 ET (23:46 GMT)
Document DJDN000020130402e942006ws

DJ Officer HODOUS Acquires 26,300 Of ACTIVISION BLIZZARD INC >ATVI
139 words
3 April 2013
00:42
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: HODOUS BRIAN

TITLE: Officer

3/31/13 Surrender* 28,700 $14.57 $418,159
NET ACQUIRED 26,300
3/31/13 Exercise 55,000 $0.00 N/A

April 02, 2013 19:42 ET (23:42 GMT)
Document DJDN000020130402e942006t7

DJ Officer SAKHNINI Acquires 28,686 Of ACTIVISION BLIZZARD INC >ATVI
139 words
3 April 2013
00:38
Dow Jones Newswires
DJDN
English
SOURCE: Form 4
ISSUER:
SYMBOL: ATVI
FILER: SAKHNINI HUMAM

TITLE: Officer

3/30/13 Surrender* 21,314 $14.57 $310,545
NET ACQUIRED 28,686
3/30/13 Exercise 50,000 $0.00 N/A

April 02, 2013 19:38 ET (23:38 GMT)
Document DJDN000020130402e942006mh

Movers & Shakers
News & Commentary
Friday’s biggest gaining and declining stocks; Apple shares extend gains for second day
Sue Chang and Saumya Vaishampayan, MarketWatch
MarketWatch; schang@marketwatch.com; Tweet your comments to @SueChangMW.MarketWatch;
SAUMYA.VAISHAMPAYAN@dowjones.com
711 words
8 February 2013
20:51
MarketWatch
MRKWC
English
Copyright 2013 MarketWatch, Inc. All Rights Reserved.
SAN FRANCISCO (MarketWatch) — Shares of AOL Inc., LinkedIn Corp. and Moody’s Corp. all made big
moves on Friday after the companies reported quarterly results. Apple Inc. was trending on Twitter after
hedge fund manager David Einhorn sued the iPhone maker.
Gainers
Activision Blizzard Inc. shares added 11%. The videogame company said late Thursday its fourth-quarter
profit rose to 31 cents a share from 8 cents a share in the year-ago period on the back of strong sales of titles
such as “Call of Duty: Black Ops 2.”
AOL shares rose 7.8% after the Internet company reported fourth-quarter earnings jumped to 41 cents a
share from 23 cents a share in the year-ago quarter on stronger advertising sales. It also announced a stock
buyback program of $100 million. See: AOL profit rises 57%
LinkedIn shares soared 22%. The social-networking company said Thursday fourth-quarter profit and sales
jumped, beating Wall Street estimates. See: LinkedIn crushes targets; shares jump.
Microchip Technology Inc. shares are the biggest gainers on the S&P 500 , rallying over 7%, after the
company issued an optimistic outlook for the current quarter. Microchip shares rise on rosy outlook
Decliners
Shares of Coinstar dropped 7%. The company said Thursday fourth-quarter earnings for its Redbox
DVD-rental unit fell 27% and gave a downbeat forecast for the first quarter. See: Coinstar profit falls by
double digits
EnteroMedics Inc. shares plummeted 56%. The company said Thursday its implant device to treat obesity
didn’t measure up in a clinical trial.
Moody’s shares declined over 8%, the worst on the S&P 500. The ratings company on Friday said its
fourth-quarter earnings increased to 70 cents a share from 43 cents a share in the year-ago period. See:
Moody’s profit surges 66%
But strong earnings have not helped the stock much in the wake of a Wall Street Journal report on Thursday
that New York Attorney General Eric Schneiderman has formally requested information from Moody’s and
Fitch Ratings to review ratings they issued ahead of the financial crisis. See WSJ: Probe adds to rating firms’
woes
Shares of McGraw-Hill Cos. , whose Standard & Poor’s unit is being sued by the Department of Justice for
inflating ratings on collateralized debt obligations in 2007, fell another 2.7%.
Top tickers trending
$AAPL:
Apple continues to generate chatter online after David Einhorn’s Greenlight Capital sued the company on its
plan to remove preferred stock from its charter. Einhorn has been pressuring the company to do more to
return cash to shareholders via preferred shares. See: Einhorn sues Apple over preferred stock plan

In response, the iPhone maker said it is actively seeking ways to return additional funds to shareholders.
“As part of our review, we will thoroughly evaluate Greenlight Capital’s current proposal to issue some form of
preferred stock,” the company said. See: How to trade Apple on Einhorn’s revolt
@CraigBachman: $AAPL When you get sued because you have too much money, you know you’ve made it
to the top.
$DAL:
Most airline stocks traded higher except for Delta Air Lines Inc. as a snowstorm named Nemo bore down on
the Northeast, canceling thousands of flights. Delta has hubs at John F. Kennedy International Airport and La
Guardia Airport in New York. Flights canceled as Nemo makes its way to New York
@GloriaFallon123: I think it’s mean to name a crippling blizzard after a cute cartoon fish, as if women named
Katrina and Sandy haven’t suffered enough. #nemo
@CT_Osprey: I think NYC is just trying to make this a three day weekend. #nemo
@seenfromstuvi2: First #sandy and now #nemo? Apparently the weather service has taken to naming storms
after animated creatures that live in the ocean.
Shares of AOL, LinkedIn and Moody’s are all making big moves while Apple is trending on Twitter after hedge
fund manager David Einhorn sued the iPhone maker.|103
Document MRKWC00020130208e928000ul

Technology
Digits / WSJ.com/Digits
445 words
14 November 2012
The Wall Street Journal
J
B4
English
Copyright 2012 Dow Jones & Company, Inc. All Rights Reserved.
Petraeus Guest Stars in
New 'Call of Duty' Game
Activision Blizzard Inc.'s highly anticipated game "Call of Duty: Black Ops 2" hit the market at midnight
Tuesday amid fanfare from critics and fans across the Web.
But the military shooter game is also receiving attention for an awkward reason: One of the characters has
the likeness and name of David Petraeus, who stepped down last week as the director of the Central
Intelligence Agency amid his extramarital affair.
The "Call of Duty" franchise includes highly stylized depictions of specialized soldiers, usually partaking in
some kind of global conflict -- and are often inspired by real-life people and events.
In "Black Ops 2," a character is based on the former U.S. general. Not only does he look like Mr. Petraeus,
but in a short clip he's referred to as "Secretary Petraeus," suggesting he is the secretary of defense.
Actor Jim Meskimen voices the Petraeus character.
In a statement, the company, a unit Vivendi SA, said Mr. Petraeus wasn't paid nor involved in the creation of
the game. "Including Gen. Petraeus and other real-life figures was strictly a creative decision made many
months ago when the story line was drafted," Activision said.
The "Call of Duty" franchise launches are some of the biggest in the game industry every year, with the
recent installment Modern Warfare 3 breaking sales records and raking in $400 million in 24 hours in North
America and the U.K.
-- Matthew Lynley and Ian Sherr
HTC, Verizon Unveil
Five-Inch Smartphone
HTC Corp. and Verizon Wireless on Tuesday unveiled a smartphone called the Droid DNA with one of the
largest displays on the market.
At an invitation-only event in New York, the companies showed off a device that has a five-inch screen, but
they insisted the Droid DNA isn't a "phablet," a nickname for a device with a size between a cellphone and a
tablet.
Verizon Wireless said this will be its flagship phone for the holiday season.
At the event Tuesday, HTC made several comparisons to the popular Galaxy S III from Samsung Electronics
Co., but it isn't clear if the Droid DNA will be enough to revive HTC.
The Taiwanese phone maker was once the top seller of phones using Google Inc.'s Android software, but it
has struggled amid competition from Samsung and Apple, recently reporting its lowest quarterly profit since
2006.
On Saturday, HTC announced it made peace with Apple, reaching a 10-year global licensing agreement and
settling all patent lawsuits between them.
-- Thomas Gryta

Subscribe to WSJ: http://online.wsj.com?mod=djnwires
Document J000000020121114e8be0000e

MONEY
'Modern Warfare' creators set to battle ; Fired superstars take on Activision with $1B at stake
Mike Snider
Mike Snider, USA TODAY
1,038 words
29 May 2012
USA Today
USAT
FINAL
B.3
English
© 2012 USA Today. Provided by ProQuest Information and Learning. All Rights Reserved.
A star-studded trial of a different mode kicks off Friday here.
Jason West and Vince Zampella may not be household names, but as the creators of first-person shooter
video games such as Call of Duty: Modern Warfare, they are celebrities in the $25 billion game industry.
Over the past two years, the duo and their attorneys have been gearing up for modern warfare of a different
kind: butting heads in Los Angeles County Superior Court with one of the industry's leading men, Bobby
Kotick, the CEO of the largest game company, Activision, which publishes, markets and distributes Call of
Duty games.
In a lawsuit filed in March 2010, West and Zampella charge that Kotick and Activision unfairly fired them from
their jobs as chief technology offer and chief creative officer, respectively, at the Activision-owned Infinity
Ward studio in Santa Monica. The action happened just before Activision would have to pay them millions in
bonuses for Call of Duty: Modern Warfare 2, which set industry sales records of more than $1 billion and
became the top-selling game of all time until it was surpassed by 2010's Call of Duty: Black Ops.
In response, Activision filed its own lawsuit saying it was justified in terminating West and Zampella, even
though they spearheaded its biggest money-making franchise, because they had become disloyal and
breached their contracts. "They were small- minded executives almost obsessed by jealousy of other
developers," the lawsuit says.
At stake is as much as $1 billion in damages should the jury decide against Activision, which in 2011 posted a
record $1 billion annual profit. That included the release of Modern Warfare 3, developed by West and
Zampella's former studio, Infinity Ward, along with Sledgehammer Games. The game set a new first-day
sales record of more than $400 million.
Activision almost certainly owes West and Zampella cash from bonuses, says Jack Lerner, director of the
University of Southern California Intellectual Property and Technology Law Clinic. "But the harder question is,
who will have a stake in future games in the Modern Warfare franchise," he says. If the court rules that
Activision wrongly terminated the two, they "may be able to get a lot more money based on what they could
have expected to earn."
An outcome in favor of Activision could shift more power to the publisher side of the game-development
equation. "It may send a message about just how far a large studio can go with respect to its employees,"
says Mark Methenitis, a Texas attorney and editor-in- chief of the Law of the Game blog.
'Project Icebreaker'
In the court filing, West and Zampella's legal team says there is evidence that Activision's chief legal officer,
George Rose, wanted to break into West's and Zampella's computers and e-mail accounts to dig up dirt on
them.
Those efforts, called "Project Icebreaker" in court filings, occurred in 2009, a year after West and Zampella
extended their contracts and only a few months before the release of Modern Warfare 2, suggesting,
according to court filings, that "Activision began preparing to terminate them once the game was delivered."
For its part, Activision insists, in its court filings, that the designers were "conspiring" with competing game
publisher Electronic Arts to leave and siphon off much of the Infinity Ward talent.

The case "has got all the elements of a great Greek drama," says Roxanne Christ, an attorney who teaches a
course in video game law at Loyola Law School in Los Angeles. "There's a lot of money at issue. A lot of
money and a lot of pride."
Earlier this month in an unusual move, Activision added superstar attorney Beth Wilkinson, a former assistant
U.S. attorney who prosecuted convicted Oklahoma City bomber Timothy McVeigh and former Panamanian
strongman Manuel Noriega. Most recently, she was appointed by the Federal Trade Commission to lead its
investigation of Google.
Along with Wilkinson's appointment, Activision asked Judge Elihu Berle to postpone the trial for a month so
that she could have more time to prepare. The judge's refusal -- jury selection is slated to begin Friday --
won't hinder Wilkinson, who can "master a lot of material in a short amount of time and get down to what is
most important," Christ says.
Married to Meet the Press host David Gregory, Wilkinson "is something of a celebrity now, which should play
well in Los Angeles" and could help Activision's case, Christ says.
On West and Zampella's side: Daniel Petrocelli, one of the country's top entertainment, technology and
intellectual property trial lawyers. He won the wrongful death case against O.J Simpson in 1997.
Case has entertainment factor
The case is being followed closely by the game industry, as well as by Hollywood and the legal profession.
Kotick, who had a small role in the baseball movie Moneyball as the Oakland Athletics owner, "is a legend in
the industry, and he is known for having a very big personality, like most CEOs do. And the guys from Infinity
Ward have good egos to go with them," Christ says. "It's like Ultimate Fighting Championship. People just get
something out of watching others duke it out."
Still, the case might not result in changes at all. "At the end of the day, unless the verdict is enormous, it may
just be seen as the cost of acquiring rights to a hugely successful series," Methenitis says. "Jason and Vince
are already on to new projects." Some firms in the agile industry may have already taken steps to shore up
the developer-publisher relationship based on the case's existence, Christ says. "This is no question a
learning lesson for everybody."
At their new studio Respawn Entertainment in Van Nuys, Calif., West and Zampella say the legal haranguing
has been worth it. "We get a lot of support from people in the industry that say, 'We want you to set things
right,'" Zampella says. They hope that a jury decides that they were unjustly treated.
Document USAT000020120529e85t0000r

UPDATE: Electronic Arts, Activision Blizzard Settle 'Call Of Duty' Suit
327 words
17 May 2012
00:37
Dow Jones Business News
DJON
English
(c) 2012 Dow Jones & Company, Inc.
--Settlement terms between Activision and EA not disclosed
--Two developers say suit with Activision is still ongoing
--Trial expected May 29
(Adds statement from lawyer for West and Zampella in final paragraph.)
By Ian Sherr
Of DOW JONES NEWSWIRES
SAN FRANCISCO -(Dow Jones)- Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) have settled
their lawsuit over the hit "Call of Duty" war-simulation franchise of games.
Santa Monica, Calif.'s Activision and Redwood City, Calif.'s EA had locked horns in court over two
developers, Jason West and Vince Zampella, who had founded "Infinity Ward," one of the two development
studios that produces the "Call of Duty" franchise of hit combat-shooting games.
Two years ago, both developers left Activision in a dispute over bonuses and ownership rights related to "Call
of Duty: Modern Warfare 2," setting up their own development studio, called "Respawn Entertainment,"
whose games would be published and distributed by EA.
Though the suit between Activision and the two developers is still ongoing, Activision and EA said they have
agreed to a cease-fire and settlement to "put this matter behind them." Neither elaborated on the terms of the
settlement.
For its part, Activision has continued pumping out "Call of Duty" franchise games, and created a specialized
social network for customers to interact with and play against each other, called "Call of Duty: Elite." EA also
went on to release "Battlefield 3" to compete with Activision's popular games during the last holiday season.
Respawn has yet to release any new games. A statement from the lawyer for West and Zampella said they
were delighted EA is no longer part of the lawsuit, expected to go to trial May 29, adding "now Activision will
have to answer for its misconduct" against them.
-By Ian Sherr, Dow Jones Newswires; 415-439-6455; ian.sherr@dowjones.com;
Twitter: @iansherr [ 05-16-12 1937ET ]
Document DJON000020120516e85g0008p

Electronic Arts And Activision Blizzard Settle 'Call Of Duty' Suit
By Ian Sherr
257 words
17 May 2012
00:06
DJON
English
SAN FRANCISCO -(Dow Jones)- Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) have settled
their lawsuit over the hit "Call of Duty" war simulation franchise of games.
Santa Monica, Calif.-based Activision and Redwood City, Calif.-based EA had locked horns in court over two
studios that produces the "Call of Duty" franchise of hit combat shooting games.
Two years ago, both developers left Activision over a dispute over bonuses and ownership rights related to
"Call of Duty: Modern Warfare 2," setting up their own development studio, called "Respawn Entertainment,"
Activision and EA said they've agreed to a cease-fire and settlement in order to "put this matter behind them."
Neither elaborated on the terms of the settlement.
For its part, Activision has continued pumping out "Call of Duty" franchise games, as well as creating a
specialized social network for customers to interact and play against each other, called "Call of Duty: Elite."
EA has also went on to release "Battlefield 3" to compete with Activision's popular games during the last
holiday season.
Respawn has yet to release any new games and id not immediately respond to a request for comment.
Document DJON000020120516e85g0008h

Activision Blizzard, Electronic Arts Settle Lawsuit -Bloomberg
84 words
16 May 2012
23:26
DJON
English
DOW JONES NEWSWIRES
Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) said in California state court Wednesday that they
have settled claims over the game "Call of Duty: Modern Warfare 2," Bloomberg News reported.
The companies said they will file a settlement agreement in court, Bloomberg reported.
Full story at
http://www.bloomberg.com/news/2012-05-16/activision-electronic-arts-settle-modern-warfare-claims.html
-Dow Jones Newswires; 212-416-2900 [ 05-16-12 1826ET ]
Document DJON000020120516e85g0008c

UPDATE: Electronic Arts, Activision Blizzard Settle 'Call Of Duty' Suit
327 words
17 May 2012
00:22
Dow Jones News Service
DJ
English
--Settlement terms between Activision and EA not disclosed
--Two developers say suit with Activision is still ongoing
--Trial expected May 29
(Adds statement from lawyer for West and Zampella in final paragraph.)
By Ian Sherr
SAN FRANCISCO (Dow Jones)--Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) have settled
their lawsuit over the hit "Call of Duty" war-simulation franchise of games.
Santa Monica, Calif.'s Activision and Redwood City, Calif.'s EA had locked horns in court over two
studios that produces the "Call of Duty" franchise of hit combat-shooting games.
Two years ago, both developers left Activision in a dispute over bonuses and ownership rights related to "Call
of Duty: Modern Warfare 2," setting up their own development studio, called "Respawn Entertainment,"
Though the suit between Activision and the two developers is still ongoing, Activision and EA said they have
agreed to a cease-fire and settlement to "put this matter behind them." Neither elaborated on the terms of the
settlement.
For its part, Activision has continued pumping out "Call of Duty" franchise games, and created a specialized
social network for customers to interact with and play against each other, called "Call of Duty: Elite." EA also
went on to release "Battlefield 3" to compete with Activision's popular games during the last holiday season.
Respawn has yet to release any new games. A statement from the lawyer for West and Zampella said they
were delighted EA is no longer part of the lawsuit, expected to go to trial May 29, adding "now Activision will
have to answer for its misconduct" against them.
Document DJ00000020120516e85g000zf

84 words
16 May 2012
23:11
DJ
English
DOW JONES NEWSWIRES
Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) said in California state court Wednesday that they
have settled claims over the game "Call of Duty: Modern Warfare 2," Bloomberg News reported.
The companies said they will file a settlement agreement in court, Bloomberg reported.
Full story at
http://www.bloomberg.com/news/2012-05-16/activision-electronic-arts-settle-modern-warfare-claims.html
-Dow Jones Newswires; 212-416-2900 [ 05-16-12 1811ET ]
Document DJ00000020120516e85g000yb

Electronic Arts And Activision Blizzard Settle 'Call Of Duty' Suit
By Ian Sherr
257 words
16 May 2012
23:11
DJ
English
SAN FRANCISCO (Dow Jones)-- Activision Blizzard Inc. (ATVI) and Electronic Arts Inc. (EA) have settled
their lawsuit over the hit "Call of Duty" war simulation franchise of games.
Santa Monica, Calif.-based Activision and Redwood City, Calif.-based EA had locked horns in court over two
studios that produces the "Call of Duty" franchise of hit combat shooting games.
Two years ago, both developers left Activision over a dispute over bonuses and ownership rights related to
"Call of Duty: Modern Warfare 2," setting up their own development studio, called "Respawn Entertainment,"
Activision and EA said they've agreed to a cease-fire and settlement in order to "put this matter behind them."
Neither elaborated on the terms of the settlement.
For its part, Activision has continued pumping out "Call of Duty" franchise games, as well as creating a
specialized social network for customers to interact and play against each other, called "Call of Duty: Elite."
EA has also went on to release "Battlefield 3" to compete with Activision's popular games during the last
holiday season.
Respawn has yet to release any new games and id not immediately respond to a request for comment.
Document DJ00000020120516e85g000ya

7 words
16 May 2012
23:04
DJ
English
Document DJ00000020120516e85g000y6

=DJ CFA Technology:Insider Review For Week Ended March 23
1,610 words
26 March 2012
12:13
DJDN
English
===========================================================================
THE WEEKLY TECHNOLOGY INSIDER REVIEW: March 19-23
---------------------------------------------------------------------------
Published by Dow Jones Corporate Filings Alert Technology Group
===========================================================================
Insider trading - the purchase and sale of securities by corporate

officers, directors and affiliates - has long been regarded as a reliable
indicator of future stock price performance.
Corporate officials are required to report transactions in their own

companies' securities within two days following the trades.
Table I provides a summary of insider activity reported within

different technology sectors during the latest two weeks.
Table II is the actual insider transactions of 500 shares or more

that are summarized in Table I for the technology industry group.
===========================================================================
TABLE I: SUMMARY OF INSIDER TRANSACTIONS BY SECTOR
($ in Thousands)
---------------------------------------------------------------------------
March 19-23 | March 12-16
---------------------------------------------------------------------------
Value Value Net | Value Value Net
Buying Selling Value | Buying Selling Value
===========================================================================
COMPUTER SALES
---------------------------------------------------------------------------
Wholesale-Computers & Peripheral Equip & Software
$ 0 (11,122) (11,122) | 0 (1,007) (1,007)
---------------------------------------------------------------------------
TOTAL $ 0 (11,122) (11,122) | 0 (1,007) (1,007)
===========================================================================
COMPUTERS & EQUIPMENT
---------------------------------------------------------------------------
Communications Equipment
$ 0 (1,301) (1,301) | 12 (2,000) (1,988)
Communications Services
$ 0 (1,174) (1,174) | 0 (4,645) (4,645)
Computer Communication Equipment
$ 0 (9,055) (9,055) | 0 (2,705) (2,705)
Computer Peripherals
$ 38 (2,821) (2,783) | 119 (1,159) (1,040)
Computer Storage Devices
$ 0 (13,402) (13,402) | 0 (19,420) (19,420)
Electronic Computers
$ 0 (344) (344) | 6 (38,117) (38,111)
Electronic Industrial Apparatus
$ 1 (832) (831) | 0 (584) (584)
Instruments for Measuring & Testing Electricity
$ 0 (355) (355) | 0 (721) (721)
Measuring & Controlling Devices
$ 0 (5,771) (5,771) | 0 (8,364) (8,364)
Petroleum Refining
$ 0 (666) (666) | 0 (10,573) (10,573)
Search, Detection, Navigation, Guidance
$ 0 (155) (155) | 588 (2,245) (1,657)
Special Industry Machinery
$ 0 0 0 | 249 (146) 103
Telegraph & Other Message Communications
$ 0 (212) (212) | 0 (259) (259)
Telephone & Telegraph Apparatus
$ 0 (133) (133) | 0 (196) (196)
Telephone Communications
$ 0 (4,088) (4,088) | 115 (3,155) (3,040)
---------------------------------------------------------------------------
TOTAL $ 39 (40,309) (40,270) | 1,089 (94,289) (93,200)
===========================================================================
SEMICONDUCTORS & EQUIPMENT
---------------------------------------------------------------------------
Electronic Components
$ 53 (502) (449) | 2 (503) (501)
Printed Circuit Boards
$ 0 (135) (135) | 0 (3,205) (3,205)
Semiconductors & Related Devices
$ 697 (23,143) (22,446) | 1435 (91,554) (90,119)
---------------------------------------------------------------------------
TOTAL $ 750 (23,780) (23,030) | 1,437 (95,262) (93,825)
===========================================================================
SOFTWARE & PROGRAMMING
---------------------------------------------------------------------------
Computer Integrated Systems Design
$ 3,076 (593) 2,483 | 47 (28,486) (28,439)
Computer Programming Services
$ 26 (11,743) (11,717) | 9 (11,190) (11,181)
Computer Related Services
$ 0 0 0 | 3008 (163) 2,845
Information Retrieval Systems
$ 0 (9,003) (9,003) | 0 (2,497) (2,497)
Prepackaged Software
$ 139 (61,176) (61,037) | 959 (82,336) (81,377)
Services-Computer Programming
$ 62 (555) (493) | 0 (56,001) (56,001)
---------------------------------------------------------------------------
TOTAL $ 3,303 (83,070) (79,767) | 4,023 (180,673) (176,650)
===========================================================================
Note: Detailed figures may not add up to totals because of rounding.
26 Mar 2012 07:14 EDT =DJ CFA Technology:Insider Review For Week Ended March 23 -2-
===========================================================================
TABLE II: SUMMARY OF INSIDER TRANSACTIONS IN TECHNOLOGY STOCKS
===========================================================================
PURCHASES: March 19-23
---------------------------------------------------------------------------
COMPANY (TICKER) TRANSACTION MEAN
INSIDER TITLE DATE(S) SHARES PRICE($) HOLDINGS
---------------------------------------------------------------------------

ACORN ENERGY INC (ACFN)
Mallard Heather VP 03/19/12 1,000 $ 8.99 1,000
Moore John A CB 03/21/12 4,000 $ 8.95 855,912
ARI NETWORK SERVICES INC (ARIS)

Horn Jeffrey E VP 03/20/12 1,000 $ 1.65 1,000
GREYSTONE LOGISTICS INC (GLGI)

Kruger Warren F CB 03/10-14/12 4,801 $ 0.08 6,563,366
KOPIN CORP (KOPN)

Choi Hong K VP 03/22/12 5,500 $ 3.54 221,696
Fan John Cc CB 03/20-22/12 49,000 $ 3.52 2,695,200
MGT CAPITAL INVESTMENTS INC (MGT)

Ladd Robert CEO 03/19-21/12 394,320 $ 0.06 2,017,066
Traversa Robert P CFO 03/19-21/12 80,314 $ 0.05 5,113,864
MRV COMMUNICATIONS INC (MRVC)

Martin William C SH 03/16-19/12 445,000 $ 1.03 5,427,103
NEOMEDIA TECHNOLOGIES INC (NEOM)

Global Grid Llc SH 03/16/12 69,754,891 $ 0.04 3,494,743
PULSE ELECTRONICS CORP (PULS)

Crane Steven G D 03/19/12 20,000 $ 2.63 27,619
QUALSTAR CORP (QBAK)

Bkf Capital Group I SH 03/19-21/12 20,585 $ 1.85 1,976,320
SMART ONLINE INC (SOLN)

Atlas Capital Sa SH 03/15/12 65,000 $ 1.30 7,330,269
SYNACOR INC (SYNC)

Stuart William John CFO 03/16/12 10,000 $ 6.06 15,000
SYNOPSYS INC (SNPS)

Nikias Chrysostomos D 03/16/12 1,800 $ 30.27 1,800
===========================================================================
SALES: March 19-23
---------------------------------------------------------------------------
---------------------------------------------------------------------------
ACCELRYS INC (ACCL)

Ohrn-Hicks Judith M VP 03/15/12 35,699 $ 7.70 0
ACI WORLDWIDE INC (ACIW)

Berkeley Alfred R I D 03/16-19/12 25,552 $ 39.51 18,378
Byrnes Dennis P VP 03/19/12 11,812 $ 39.60 43,268
ACME PACKET INC (APKT)

Melampy Patrick J OD 03/19-20/12 60,000 $ 28.04 3,959,470
ACTIVE NETWORK INC (ACTV)

Walt Disney Company SH 03/15/12 1,699,414 $ 16.46 6,038,806

Weiser Ann O 03/15/12 400,000 $ 12.34 30,208
ACTUATE CORPORATION (BIRT)

Akiha N Nobby VP 03/20/12 43,000 $ 6.11 26,555
ADOBE SYSTEMS INC (ADBE)

Cottle Karen O VP 03/21/12 41,251 $ 33.30 74,105
Thompson Matthew VP 03/22/12 32,334 $ 33.70 39,270
Warnock John E CB 03/21/12 120,000 $ 33.60 1,026,667
ADVANCED ENERGY INDUSTRIES INC (AEIS)

Schatz Douglas S CB 03/19/12 38,381 $ 13.09 2,979,768
ALLIANCE FIBER OPTIC PRODUCTS INC (AFOP)

Hubbard David A VP 03/19/12 3,000 $ 9.50 45,347
AMERICAN SOFTWARE INC -CL A (AMSWA)

Edenfield J Michael VP 03/19/12 10,000 $ 9.34 374,629
ANALOG DEVICES INC (ADI)

Fishman Jerald G CEO 03/15-19/12 40,000 $ 39.89 421,348
Fuller Samuel H VP 03/19/12 5,000 $ 40.27 5,040
Seif Margaret K VP 03/20/12 10,000 $ 39.91 0
ANALOGIC CORP (ALOG)

Peechatka Farley VP 03/21/12 2,762 $ 65.27 9,327
APPLIED MATERIALS INC (AMAT)

Forrest Stephen R D 03/16/12 7,700 $ 12.87 34,870
ARABIAN AMERICAN DEVELOPMENT CO (ARSD)

Goehringer Charles O 03/20-22/12 1,000 $ 8.87 44,411
ARUBA NETWORKS INC (ARUN)

Galvin Michael CFO 03/19/12 3,000 $ 23.78 243,164
Sheth Hitesh COO 03/19/12 2,470 $ 23.80 66,843
AUTODESK INC (ADSK)

Becker Janice VP 03/21/12 31,248 $ 41.52 68,096
Beveridge Crawford D 03/15/12 32,000 $ 39.09 30,873
West Steven M D 03/20/12 20,000 $ 41.07 7,607
BOINGO WIRELESS INC (WIFI)

Hovenier Peter VP 03/20/12 25,000 $ 10.91 0
BROADCOM CORP -CL A (BRCM)

Lagatta Thomas F VP 03/19/12 1,561 $ 39.00 41,694
Major John Edward D 03/19/12 1,000 $ 38.18 21,896
Rango Robert A VP 03/19/12 1,250 $ 39.00 43,367
CADENCE DESIGN SYS INC (CDNS)

Hsu Chi-Ping VP 03/19/12 47,313 $ 12.52 137,367
CIENA CORP (CIEN)

Smith Gary B CEO 03/19/12 7,289 $ 16.05 435,235
CISCO SYSTEMS INC (CSCO)

Bhatt Prat VP 03/16/12 1,467 $ 19.99 85,647
Chandler Mark D VP 03/16/12 37,500 $ 19.95 484,001
Christie Katherine VP 03/20/12 3,333 $ 20.50 438,119
Moore Gary B COO 03/20/12 50,000 $ 20.50 838,658
COGENT COMMUNICATIONS GROUP INC (CCOI)

Beury Robert N Jr VP 03/19/12 3,000 $ 19.85 31,340
O'Neill Timothy G VP 03/19/12 3,500 $ 20.00 43,152
COGNIZANT TECHNOLOGY SOLUTIONS CORP -CL A (CTSH)

Narayanan Lakshmi OD 03/15/12 100,000 $ 76.12 0
CROSSROADS SYSTEMS INC (CRDS)

Bianchi Brian Josep COO 03/16/12 1,430 $ 5.58 104,132
Compass Global Mana SH 02/03/12 130,000 $ 4.80 838,750
Crane Jennifer CFO 03/16/12 1,566 $ 5.55 53,099
CVR ENERGY INC (CVI)
Lipinski John J CB 03/19/12 5,000 $ 27.21 740,236
DIRECTV -CL A (DTV)

Little Joseph W VP 03/21-22/12 9,900 $ 48.40 19,856
Murphy John Francis VP 03/19/12 14,109 $ 47.82 0
DST SYSTEMS INC (DST)

Abraham Thomas R OS 03/15/12 2,000 $ 54.94 23,086
Towle Steven J OS 03/15/12 15,000 $ 55.04 44,718
EGAIN COMMUNICATIONS CORP (EGAN)

Jepson Charles W VP 03/16-19/12 4,000 $ 6.00 0
===========================================================================

===========================================================================
(MORE TO FOLLOW) Dow Jones Newswires
March 26, 2012 07:14 ET (11:14 GMT)
Document DJDN000020120326e83q00554

=DJ CFA Substantial Insider Sales: Afternoon Report
2,434 words
23 March 2012
20:44
DJDN
English
____________________________________________________________________________

least $250,000 reported to the Securities and Exchange Commission and
compiled after 8:30 a.m. EDT Friday.

____________________________________________________________________________
AVALON BAY COMMUNITIES INC (AVB)

*Horey Leo S III (VP) 2/13/12 12,614 $135.25 65,719
BOSTON BEER CO (SAM) CL A

Koch C James (CB) 3/22/12 3,000 $100.02 347,017
CORNERSTONE ONDEMAND INC (CSOD)

Miller Adam L (CEO) 3/21/12-3/22/12 29,160 $20.26 6,597,821
DAWSON GEOPHYSICAL CO (DWSN)

Pardue Howell W (VP) 3/8/12 12,500 $35.16 313
DICK'S SPORTING GOODS INC (DKS)

Oliver Joseph R (VP) 3/23/12 10,750 $49.05 40,626
GREEN PLAINS RENEWABLE ENERGY INC (GPRE)

Greenstar Investment (SH) 3/9/12 3,700,000 $10.06 577,653
Greenstar Investment (SH) 3/6/12 3,450,000 $10.06 4,277,653
INTERCONTINENTALEXCHANGE INC (ICE)

Hill Scott A (CFO) 3/23/12 2,000 $138.79 21,363
LOGMEIN INC (LOGM)

Kelliher James F (CFO) 3/21/12 8,250 $35.14 25,811
MACY'S INC (M)

Gennette Jeffrey (O) 3/22/12 32,005 $40.00 551
MARRIOTT INTERNATIONAL INC (MAR) CL A

Mccarthy Robert J (O) 3/22/12 12,944 $37.67 79,532
Ryan Edward A (VP) 3/22/12 12,000 $37.47 74,308
MARRIOTT VACATIONS WORLDWIDE CORP (VAC)

Marriott John Willar (SH) 3/21/12-3/22/12 33,179 $26.51 3,449,713
MEDICAL PROPERTIES TRUST INC (MPW)

Aldag Edward K Jr (CB) 3/12/12-3/21/12 45,000 $9.47 2,264,783
PENN NATIONAL GAMING INC (PENN)

Burke Desiree A (VP) 3/21/12 12,500 $44.49 11,892
RAND WORLDWIDE INC (RWWI)

Fischer Eugene J (D) 3/22/12 1,359,808 $0.56 0
RESOURCE HOLDINGS INC/CA (SMSA)

Campbell Michael B (CEO) 12/30/11-3/2/12 917,500 $0.40 13,265,187
SIMON PROPERTY GROUP INC (SPG)

Horn Karen N (D) 3/22/12 3,168 $142.87 10,175
STRYKER CORP (SYK)

Stryker Ronda E (D) 3/22/12-3/23/12 18,000 $54.26 31,717,658
STURM RUGER & CO INC (RGR)

Fifer Michael O (CEO) 3/22/12 25,000 $45.73 213,530
SUNRISE SENIOR LIVING INC (SRZ)

Neeb D Gregory (O) 3/21/12-3/22/12 177,255 $7.30 169,468
SYNCHRONOSS TECHNOLOGIES INC (SNCR)

Waldis Stephen G (CB) 3/21/12-3/22/12 40,000 $32.14 1,057,799
TERADATA CORP (TDC)

Harrington Daniel L (VP) 3/21/12 5,000 $66.93 44,966
TIFFANY & CO (TIF)

Canavan Beth O (VP) 3/22/12 46,500 $72.05 13,034
Marquis Charles K (D) 3/22/12 7,500 $72.50 161,771
Mcguiness Patrick F (CFO) 3/22/12 15,802 $72.34 665
TORO CO (TTC)
Buhrmaster Robert C (D) 3/21/12 12,000 $71.04 14,135
VALIDUS HOLDINGS LTD (VR)

Singh Alok (D) 3/21/12 60,100 $30.24 3,232,799
Ward Conan M (VP) 3/23/12 12,535 $30.18 248,803
VISA INC (V) CL A

Saunders Joseph W (CB) 3/22/12 12,420 $116.94 116,327
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________
===========================================================================
===========================================================================
SALES: March 19-23
---------------------------------------------------------------------------
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ELECSYS CORP (ESYS)

Tampke M Scott SH 03/15-21/12 9,329 $ 4.23 72,390
ELLIE MAE INC (ELLI)

Anderman Sigmund CEO 03/16/12 100,000 $ 10.00 437,471
FACTSET RESEARCH SYSTEMS INC (FDS)

Kennedy Kieran M VP 03/16/12 5,589 $ 99.24 8,493
FINISAR CORP (FNSR)

Brown Christopher E VP 03/20/12 1,070 $ 18.78 68,502
FORTINET INC (FTNT)

Xie Michael OD 03/21-22/12 5,000 $ 26.99 3,235,000
FREESCALE SEMICONDUCTOR HOLDINGS I LTD (FSL)

Richard Henri P VP 03/16/12 3,796 $ 16.00 79,537
FUSION-IO INC (FIO)

Boberg Richard W VP 03/20/12 9,000 $ 29.51 303,132
Smith Lance L COO 03/15/12 250,000 $ 31.14 0
GARMIN LTD (GRMN)

Biddlecombe Sean O 03/16-20/12 2,417 $ 46.84 4,105
GLU MOBILE INC (GLUU)

Iyer Kal VP 03/22-23/12 205,390 $ 4.24 0
ID SYSTEMS INC (IDSY)

Ehrman Kenneth S P 03/15/12 8,447 $ 5.92 500,464
IGATE CORP (IGTE)

Idgunji Prashanth O 03/15/12 1,500 $ 17.92 0
Narayanan Sean Sure O 03/16-20/12 64,379 $ 17.51 161,595
INFORMATICA CORP (INFA)

Chong Ivan DO 03/16-20/12 32,000 $ 51.34 45,188
INTEGRAL VISION INC (INVI)

Bonanza Master Fund SH 03/16-19/12 487,100 $ 0.02 3,725,000
IRIDIUM COMMUNICATIONS INC (IRDM)

Greenhill & Co Inc SH 03/19-23/12 100,000 $ 9.23 8,019,016
J2 GLOBAL INC (JCOM)

Ressler Richard S CB 03/20-21/12 7,000 $ 30.22 1,666,536
KENEXA CORP (KNXA)

Jones Archie Lee Jr VP 03/16/12 5,000 $ 29.56 4,750
Volk Donald F CFO 03/15-19/12 10,000 $ 30.06 95,638
KOPIN CORP (KOPN)

Presz Michael VP 03/20/12 13,300 $ 3.47 205,913
KULICKE & SOFFA INDUSTRIES INC (KLIC)

Bachman Brian R D 03/19/12 6,670 $ 12.00 34,234
Guilmart Bruno CEO 03/19/12 42,900 $ 12.00 481,914
LINKEDIN CORP -CL A (LNKD)

Gamson Michael VP 03/21/12 20,000 $ 97.74 359
Henke David VP 03/19/12 14,500 $ 90.71 35,359
Nishar Dipchand VP 03/19-21/12 9,373 $ 92.39 50,359
Rottenberg Erika VP 03/20-21/12 21,875 $ 94.49 20,329
Scott James Kevin VP 03/21/12 8,000 $ 00.00 35,299
Sordello Steven J CFO 03/21/12 20,000 $ 00.00 50,359
LOGMEIN INC (LOGM)

Burton Andrew F VP 03/22-23/12 5,000 $ 34.85 0
Donahue Michael J VP 03/23/12 2,500 $ 34.21 0
Kelliher James F CFO 03/21/12 8,250 $ 35.14 25,811
M/A-COM TECHNOLOGY SOLUTIONS HOLDINGS INC (MTSI)

Ocampo John L CB 03/20/12 1,011,813 $ 17.67 5,232,142
MAGICJACK VOCALTEC LTD (CALL)

Burns Donald A D 03/20-21/12 3,000 $ 26.76 461,394
MAJESCO ENTERTAINMENT CO (COOL)

Grafman Allan D 03/16-19/12 10,000 $ 2.57 121,131
MEASUREMENT SPECIALTIES INC (MEAS)

Smith Steven Craig COO 03/19/12 27,500 $ 33.54 10,000
MEDIWARE INFORMATION SYSTEMS (MEDW)

Constellation Softw SH 03/21-23/12 3,200 $ 14.97 1,495,705
MELLANOX TECHNOLOGIES LTD (MLNX)

Waldman Eyal CB 03/19/12 5,333 $ 40.00 1,523,296
MEMSIC INC (MEMS)

Zhao Yang CB 03/16/12 20,000 $ 5.00 661,924
MONOLITHIC POWER SYSTEMS INC (MPWR)

Moyer James C OD 03/20-21/12 800 $ 19.10 1,488,892
MONOTYPE IMAGING HOLDINGS INC (TYPE)

Seguin John L VP 03/19/12 850 $ 15.00 38,357

Coates Norman V D 03/20/12 25,000 $ 18.16 934,445
NATIONAL INSTRUMENTS CORP (NATI)

Kodosky Jeffrey L D 03/19/12 8,000 $ 27.76 1,575,653
NETAPP INC (NTAP)

Salmon Robert E VP 03/16-20/12 42,188 $ 43.62 22,037
NETSUITE INC (N)

Goldberg Evan CB 03/19/12 3,000 $ 47.87 2,869,024
Nelson Zachary A CEO 03/19/12 5,000 $ 47.86 1,078,061
NUANCE COMMUNICATIONS INC (NUAN)

Beaudoin Thomas L CFO 03/19/12 4,000 $ 26.16 440,827
Myers Mark B D 03/19/12 3,000 $ 26.06 85,001
ORACLE CORP (ORCL)

Boskin Michael J D 03/23/12 100,000 $ 28.68 5,000
OSI SYSTEMS INC (OSIS)

Edrick Alan I CFO 03/21-23/12 12,300 $ 61.56 92,861
PERVASIVE SOFTWARE INC (PVSW)

Van Cutsem Gilbert DO 03/19-20/12 1,309 $ 6.05 50,000
POKERTEK INC (PTEK)

White Gehrig H OD 03/20/12 10,000 $ 0.98 772,997
POWER INTEGRATIONS INC (POWI)

Bell Derek J VP 03/15-22/12 2,000 $ 37.34 20,769
RAND WORLDWIDE INC (RWWI)

Fischer Eugene J D 03/22/12 1,359,808 $ 0.56 0
RESPONSYS INC (MKTG)

Smith Donald Eugene O 03/15-21/12 20,000 $ 11.75 0
Springer Daniel D CB 03/22/12 200,000 $ 11.97 1,162,572
RIGNET INC (RNET)

Jimmerson Martin L CFO 03/19-20/12 1,750 $ 18.02 20,409
Slaughter Mark B CEO 03/19-20/12 1,300 $ 18.03 35,834
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SALES: March 19-23
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RIVERBED TECHNOLOGY INC (RVBD)

Mccanne Steven OD 03/15/12 90,666 $ 26.50 4,537,609
Swartz James R D 03/15/12 180,000 $ 27.61 766,106

Harris G Parker VP 03/21/12 7,000 $ 55.04 486,287
Koplow Hilarie A O 03/22/12 2,518 $ 52.83 24,063
Ramsey Craig D D 03/23/12 6,540 $ 53.66 802,377
Smith Graham V CFO 03/23/12 3,000 $ 52.66 17,092
Van Veenendaal Fran O 03/19/12 1,000 $ 50.43 8,891

Ellsworth John J VP 03/21-23/12 500 $ 37.22 11,523
SCIQUEST INC (SQI)

Broddle Daryl VP 03/16/12 1,000 $ 14.99 38,406
Heffernan C Gamble VP 03/16/12 2,000 $ 14.97 8,000
SEAGATE TECHNOLOGY PLC (STX)

Luczo Stephen J CB 03/21/12 20,000 $ 26.66 4,022,260
SEMTECH CORP (SMTC)

Kim James Jungsup VP 03/22/12 7,000 $ 28.87 10,563
Piotrowski John L D 03/19/12 5,000 $ 28.64 0
SILICON LABORATORIES INC (SLAB)

Sayiner Necip CEO 03/21/12 3,435 $ 43.51 204,630
SKYWORKS SOLUTIONS INC (SWKS)

Levan George VP 03/15/12 8,000 $ 27.88 85,350
SMTC CORP (SMTX)

Blom Paul M VP 03/16/12 40,000 $ 3.37 10,000
SOLARWINDS INC (SWI)

Kalsu James Barton VP 03/19/12 10,000 $ 37.69 19,941
SXC HEALTH SOLUTIONS CORP (SXCI)

Berman Clifford E VP 03/19/12 12,500 $ 72.38 5,982

Putnam Christopher VP 03/15/12 15,933 $ 32.56 32,561
Waldis Stephen G CB 03/21-22/12 40,000 $ 32.14 1,057,799
TECH DATA CORP (TECD)

Dutkowsky Robert M CEO 03/16-19/12 43,023 $ 54.54 93,086
Raymund Steven A CB 03/15-16/12 150,000 $ 54.66 1,146,027
Trepani Joseph B VP 03/16/12 10,227 $ 54.54 13,306
TELECOMMUNICATION SYSTEMS INC -CL A (TSYS)

Morin Drew A VP 03/01/12 8,446 $ 2.79 462,886
TELENAV INC (TNAV)

Rennard Robert W O 03/19/12 6,000 $ 7.02 781,470
TERADATA CORP (TDC)

Harrington Daniel L VP 03/21/12 5,000 $ 66.93 44,966
TERADYNE INC (TER)

Hotchkiss Jeffrey R DO 03/16/12 10,232 $ 17.11 35,640
THERMO FISHER SCIENTIFIC INC (TMO)

Loewald Thomas W VP 03/19/12 15,078 $ 57.73 31,736
THERMON GROUP HOLDINGS INC (THR)

Alexander George P VP 03/22/12 29,518 $ 19.66 381,840
Van Der Salm Johann VP 03/19/12 12,500 $ 20.15 157,046
TOWERSTREAM CORP (TWER)

Yarbrough Melvin Le COO 03/20-21/12 5,007 $ 3.92 290,810
TRIMBLE NAVIGATION LIMITED (TRMB)

Berglund Steven W CEO 03/20/12 50,000 $ 53.79 116,530
Harrington Mark A VP 03/19/12 15,000 $ 55.00 624
TW TELECOM INC -CL A (TWTC)

Attorri Gregory J D 03/19/12 5,000 $ 23.00 35,000
Blount John COO 03/19/12 100,000 $ 22.70 528,233
Peters Mark A CFO 03/19/12 41,094 $ 22.92 19,000
VALERO ENERGY CORP (VLO)

Marbut Robert G D 03/19/12 750 $ 28.01 63,036
VIRTUSA CORP (VRTU)

Canekeratne Kris A CB 03/19-20/12 11,100 $ 16.12 1,768,279
Dhir Samir VP 03/16/12 6,926 $ 15.99 20,217
VOLTERRA SEMICONDUCTOR CORP (VLTR)

Numann William VP 03/15/12 6,000 $ 32.06 45,073
VONAGE HOLDINGS CORP (VG)

Citron Jeffrey A CB 03/19-21/12 300,000 $ 2.27 4,657,786
WESTERN DIGITAL CORP (WDC)
Morris James D VP 03/20/12 76,349 $ 39.00 50,808
WESTERN REFINING INC (WNR)

Schmidt Ralph A D 03/16-19/12 25,000 $ 20.01 963,104
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March 26, 2012 07:13 ET (11:13 GMT)
Document DJDN000020120323e83n006n4

=DJ CFA Substantial Insider Sales: Morning Report
5,249 words
17 February 2012
13:44
DJDN
English
____________________________________________________________________________

Thursday and early Friday.

____________________________________________________________________________
3M COMPANY (MMM)
Yeomans Jan L (T) 2/15/12 5,159 $87.05 60,280

Hodous Brian (O) 2/14/12 240,000 $12.35 79,720
ACUITY BRANDS INC (AYI)

Black Mark A (VP) 2/15/12 38,790 $59.60 0
AMAZON.COM INC (AMZN)

Blackburn Jeffrey M (VP) 2/15/12 3,875 $191.03 56,028
Jassy Andrew R (VP) 2/15/12 2,868 $191.03 10,727
Stonesifer Patricia (D) 2/15/12 5,000 $190.29 49,549
Szkutak Thomas J (CFO) 2/15/12 4,000 $190.05 50,452
Valentine H Brian (VP) 2/15/12 10,000 $190.03 35,196
Wilke Jeffrey A (VP) 2/15/12 4,980 $187.38 100,431
Wilson Lynn Michelle (VP) 2/15/12 5,250 $190.03 22,740
ARIAD PHARMACEUTICALS INC (ARIA)

Clackson Timothy P (O) 2/14/12 76,436 $15.12 119,882
AUTONATION INC (AN)

Gates Bill & Melinda (SH) 2/14/12 297,609 $35.26 2,857,103
BALLY TECHNOLOGIES INC (BYI)

Verner Kevin L (D) 2/15/12 20,000 $43.93 43,414
BLACKROCK INC (BLK)

Wagner Susan L (O) 2/14/12 90,000 $190.91 495,495
BUCKEYE TECHNOLOGIES INC (BKI)

Aiken Charles S (VP) 2/16/12 10,000 $33.00 84,863
CAPITAL ONE FINANCIAL CORP (COF)

Dietz W Ronald (D) 2/14/12 35,000 $47.99 32,660
CAPITAL SOUTHWEST CORP (CSWC)

Thomas William R III (VP) 2/14/12-2/15/12 10,000 $90.97 33,603

CELANESE CORP (CEO) SER A
Jensen Christopher W (T) 2/15/12 10,909 $50.32 30,097
DANAHER CORP (DHR)

Ditkoff James H (VP) 2/16/12 20,000 $52.08 395,638
DOLBY LABORATORIES INC (DLB) CL A

Siboni Roger S (D) 2/15/12 6,800 $37.98 0
ENCORE CAPITAL GROUP INC (ECPG)

Black J Brandon (CEO) 2/15/12 30,000 $24.22 109,732
FAIR ISAAC CORP (FICO)

Graziano Nick (D) 2/14/12 51,516 $39.02 1,000
FLEETCOR TECHNOLOGIES INC (FLT)

Stull Steven T (D) 2/13/12-2/16/12 333,279 $35.98 1,569,642
HAIN CELESTIAL GROUP INC (HAIN)

Carroll John B (VP) 2/14/12-2/16/12 25,000 $40.07 39,129
HMS HOLDINGS CORP (HMSY)

Curtin Sean (VP) 2/15/12 7,500 $34.02 57,561
Dragonetti Christina (VP) 2/10/12 12,000 $33.51 180,783
ILLUMINA INC (ILMN)

Henry Christian O (VP) 2/14/12 10,000 $53.78 26,547
IMAX CORP (IMAX)

Wechsler Bradley J (CB) 2/14/12-2/16/12 54,000 $23.90 513,300
LIVEPERSON INC (LPSN)

Kovach Michael I (VP) 2/14/12 20,000 $14.99 3,600

Mitchell Jeffrey S (VP) 2/14/12 25,000 $46.19 54,562
Sinisgalli Peter F (CEO) 2/14/12-2/15/12 20,496 $46.51 113,013
NATIONAL RESEARCH CORP (NRCI)

Hays Michael D (CEO) 2/9/12 473,612 $41.50 4,186,349

Dillione Janet (VP) 2/14/12 25,000 $27.40 234,868
POLARIS INDUSTRIES INC (PII)

Jonikas Michael P (VP) 2/14/12 12,000 $69.21 30,054
PRAXAIR INC (PX)

Wood Robert L (D) 2/15/12 5,275 $107.44 4,131
PROS HOLDINGS INC (PRO)

Woestemeyer Ronald F (OD) 2/14/12 500,000 $17.80 4,315,443
QUALCOMM INC (QCOM)

Altman Steven R (O) 2/15/12 100,000 $61.74 104,507
RACKSPACE HOSTING INC (RAX)

Bishkin S James (D) 2/14/12 19,700 $53.75 103,893
RAYTHEON CO (RTN)
Lawrence Taylor W (VP) 2/16/12 16,224 $48.70 50,966
Swanson William H (CB) 2/16/12 92,689 $48.70 845,542
Wood Michael J (VP) 2/16/12 6,220 $48.54 19,925
Yuse Richard R (VP) 2/16/12 12,143 $48.71 41,613
REGAL BELOIT (RBC)

Knueppel Henry W (D) 2/14/12 10,000 $68.93 324,529
ROCKWELL AUTOMATION INC (ROK)

Dorgan David M (VP) 2/16/12 5,000 $80.27 17,546

Smith Graham V (CFO) 2/15/12 11,500 $132.43 15,868
SKYWORKS SOLUTIONS INC (SWKS)

Iyer Balakrishnan S (D) 2/14/12-2/16/12 39,123 $24.63 49,582

Sims Bryan Allen (VP) 2/14/12 8,599 $37.74 99,887
STANCORP FINANCIAL GROUP INC (SFG)

Thorne Michael G (D) 2/15/12 8,000 $39.54 14,000
SUPER MICRO COMPUTER INC (SMCI)

Liaw Yih-Shyan Wally (OD) 2/15/12 18,000 $17.02 3,286,486
THERMON GROUP HOLDINGS INC (THR)

Peterson Jay (CFO) 2/16/12 23,816 $19.79 0
TORCHMARK CORP (TMK)

Coleman Gary L (CFO) 2/15/12 17,102 $47.97 343,920
TRANSDIGM GROUP INC (TDG)

Rufus Gregory (CFO) 2/16/12 11,339 $116.42 0
ULTRATECH INC (UTEK)

Richard Henri P (D) 2/14/12 10,000 $28.28 10,000
UNITED TECHNOLOGIES CORP (UTX)

Dumais Michael R (O) 2/14/12 18,000 $84.50 5,721

Singh Alok (D) 2/14/12 68,700 $31.90 3,748,100
VALSPAR CORP (VAL)

Jokinen Tracy C (VP) 2/16/12 6,000 $45.75 36,421
VIASAT INC (VSAT)

Targoff Michael B (D) 2/16/12 10,000 $45.83 50,950
WESCO AIRCRAFT HOLDINGS INC (WAIR)

Murray Alex (VP) 2/14/12-2/15/12 238,337 $14.53 90,400
WRIGHT EXPRESS CORP (WXS)

Smith Melissa D (O) 2/16/12 8,000 $61.34 17,296
Stecklair Richard K (VP) 2/16/12 7,230 $61.48 4,406
YAHOO! INC (YHOO) CL A

Filo David (O) 2/14/12 366,500 $15.64 72,196,390
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________

20 Feb 2012 07:11 EDT =DJ CFA Financials:Insider Review For Week Ended Feb. 17 -4-
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TABLE II: SUMMARY OF INSIDER TRANSACTIONS IN FINANCIALS STOCKS
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SALES: Feb. 13-17
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AON CORPORATION (AON)

Clement Philip A O 02/13/12 12,706 $ 48.87 32,582
Mcgill Stephen P O 02/10/12 45,515 $ 48.65 141,181
ARCH CAPITAL GROUP LTD (ACGL)

Lyons Mark Donald O 02/16/12 25,750 $ 37.74 118,309
AXIS CAPITAL HOLDINGS LTD (AXS)

Reding Dennis B COO 02/14/12 45,836 $ 32.50 380,748
BANK OF THE OZARKS INC (OZRK)

Smith Harley Kennit D 02/16/12 2,000 $ 29.46 73,690
BLACKROCK INC (BLK)

Wagner Susan L O 02/14/12 90,000 $ 90.91 495,495
BOK FINANCIAL CORP (BOKF)

Bell Sharon J D 12/21/11 557 $ 53.84 36,880
BROOKLINE BANCORP INC (BRKL)

Sherman Merrill W D 02/09/12 10,740 $ 9.40 18,000
BRYN MAWR BANK CORP (BMTC)

Keefer Joseph G VP 02/13-16/12 6,000 $ 20.32 7,512
CAPITAL ONE FINANCIAL CORP (COF)

Dietz W Ronald D 02/14/12 35,000 $ 47.99 32,660
Slocum Michael C O 02/15/12 12,138 $ 50.00 44,774
CHUBB CORP (CB)

Somers Daniel E D 02/10/12 2,000 $ 68.55 2,048
CNB FINANCIAL CORP OF PA (CCNE)

Powell Jeffrey S D 02/13/12 4,000 $ 15.82 263,645
CORVEL CORP (CRVL)

Starck Daniel J CEO 02/13-16/12 5,781 $ 48.35 25,768
DIME COMMUNITY BANCSHARES (DCOM)

Mahon Kenneth J CFO 02/16/12 20,973 $ 14.31 433,232
Pucella Michael VP 02/16/12 1,000 $ 14.25 123,554
EAST WEST BANCORP INC (EWBC)

Li Herman Y D 02/10/12 10,000 $ 22.15 52,628
EHEALTH INC (EHTH)

Gibbs Samuel C III O 02/14/12 1,292 $ 15.54 6,662
Hurley Robert S VP 02/14/12 1,186 $ 15.71 16,734

ENCORE CAPITAL GROUP INC (ECPG)
Black J Brandon CEO 02/15/12 30,000 $ 24.22 109,732
ENTERPRISE BANCORP INC (EBTC)

Hanson Eric W D 02/10-15/12 6,766 $ 17.27 441,239
EVERCORE PARTNERS INC -CL A (EVR)

Mestre Eduardo G O 02/13/12 17,171 $ 28.01 194,803
Pensa Paul O 02/10-13/12 622 $ 27.77 6,689
EVEREST RE GROUP LTD (RE)

De Saram Mark S VP 02/13-15/12 4,000 $ 89.33 41,876
FINANCIAL ENGINES INC (FNGN)

Maggioncalda Jeffre CEO 02/15/12 3,000 $ 23.95 112,909
FINANCIAL INSTITUTIONS INC (FISI)

Witkowski John Jose VP 02/14/12 1,250 $ 17.51 19,921
FIRST BANCORP (FBNC)

Nixon Teresa C VP 03/28/11 2,092 $ 13.48 44,799
FIRST FINANCIAL BANCORP/OH (FFBC)

Lefferson C Douglas COO 02/14/12 12,943 $ 17.14 33,765
FIRST INTERSTATE BANCSYSTEM INC/MT -CL A (FIBK)

Suzor Sandra A Scot D 02/13/12 8,000 $ 14.26 8,924
FIRST MID-ILLINOIS BANCSHARES INC (FMBH)

Taylor Michael L CFO 02/15/12 2,530 $ 19.70 2,800
FXCM INC -CL A (FXCM)

Lehman Brothers Hol SH 02/14/12 4,889,997 $ 10.02 0
GREENE COUNTY BANCORP INC (GCBC)

Nelson Stephen E VP 02/14/12 1,450 $ 17.40 8,606
Whittaker J Bruce D 02/15/12 6,000 $ 17.44 74,727
HANMI FINANCIAL CORP (HAFC)

Lee Joon Hyung D 02/14-16/12 12,149 $ 8.94 292,011
HUDSON CITY BANCORP INC (HCBK)

Quest Donald O D 02/14/12 137,399 $ 6.82 304,153
INTERACTIVE BROKERS GROUP INC -CL A (IBKR)

Galik Milan OD 02/09-16/12 4,800 $ 15.51 871,784
KAISER FEDERAL FINANCIAL GROUP INC (KFFG)

Carandang Jean CFO 02/16/12 2,700 $ 13.44 10,464
LAKELAND BANCORP INC (LBAI)

Yanagisawa David S VP 02/13/12 620 $ 9.79 5,341
LAKELAND FINL CORP (LKFN)

Gavin Michael E VP 02/14/12 800 $ 25.01 6,428
MORNINGSTAR INC (MORN)

Robbins Richard E O 02/14/12 1,000 $ 60.99 22,535
NELNET INC -CL A (NNI)

Muhleisen Angie SH 02/15/12 10,000 $ 25.64 6,079,480
Munn William J O 02/13/12 2,000 $ 25.99 27,847
NETSPEND HOLDINGS INC (NTSP)

Devoglaer James H VP 12/02-30/11 55,957 $ 7.31 0
Hatzopoulos Anh VP 11/15/11 10,601 $ 6.06 0
NORTHRIM BANCORP INC (NRIM)
Knudson Christopher COO 02/14-15/12 2,450 $ 19.97 35,256
PEAPACK-GLADSTONE FINANCIAL CORP (PGC)

Mulcahy John R D 02/15-16/12 720 $ 12.21 20,574
PINNACLE FINANCIAL PARTNERS INC (PNFP)

Huddleston William D 02/15/12 4,336 $ 17.30 66,332
PIPER JAFFRAY COS INC (PJC)

O'Brien Brien M O 02/09-10/12 12,500 $ 23.42 335,199
PNC FINANCIAL SERVICES GROUP INC (PNC)

Gulley Joan L VP 02/15/12 1,500 $ 59.75 36,836
POPULAR INC (BPOP)

Monzon Gilberto VP 03/30/11 2,161 $ 2.88 144,097
PRIMERICA INC (PRI)

Kelly William A OS 02/10/12 8,187 $ 24.69 71,000
PROGRESSIVE CORP-OHIO (PGR)

Charney M Jeffrey O 02/03/12 1,000 $ 21.04 15,285
PROTECTIVE LIFE CORP (PL)

Thigpen Carl S VP 02/14/12 17,805 $ 27.15 48,697
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SALES: Feb. 13-17
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PRUDENTIAL FINANCIAL INC (PRU)

Blount Susan L VP 02/13/12 3,175 $ 59.30 32,733
Koster Barbara VP 02/13/12 6,964 $ 59.94 24,651
Lowrey Charles F VP 02/13/12 8,280 $ 59.90 40,917
Strangfeld John R J CB 02/13/12 64,876 $ 60.08 259,157
RAYMOND JAMES FINANCIAL INC (RJF)

James Thomas A CB 02/10/12 1,200 $ 34.58 1,767,105
REINSURANCE GROUP OF AMERICA (RGA)

Schuster Paul Arthu VP 02/15/12 8,556 $ 56.82 35,742
RENAISSANCERE HOLDINGS LTD (RNR)
Branagan Ian D VP 02/13/12 29,000 $ 72.80 47,483
Fonner Todd Rider VP 02/15/12 705 $ 73.00 60,401
Kelly Jeffrey D CFO 02/15/12 7,000 $ 72.24 67,086
RIVERVIEW BANCORP INC (RVSB)

Dahlstrom David A VP 02/10/12 632 $ 2.24 20,556
STANCORP FINANCIAL GROUP INC (SFG)

Thorne Michael G D 02/15/12 8,000 $ 39.54 14,000
SVB FINANCIAL GROUP (SIVB)

Becker Gregory W CEO 02/13/12 19,999 $ 58.27 29,876
Kellogg Harry W Jr O 02/16/12 6,000 $ 61.00 6,775
Verissimo Marc J O 02/16/12 3,342 $ 60.94 21,157
TORCHMARK CORP (TMK)

Almond Danny H VP 02/09-10/12 15,000 $ 47.03 27,213
Bowie Arvelia VP 02/09/12 2,328 $ 47.26 264
Coleman Gary L CFO 02/15/12 17,102 $ 47.97 343,920
Herbel Vern D VP 02/09/12 14,000 $ 46.81 94,526
Hutchison Larry M VP 02/13/12 20,000 $ 47.69 252,193
Ingram Robert W D 02/09/12 9,000 $ 46.94 17,635
Lutek Ben VP 02/09/12 15,000 $ 46.87 25,217
Mcandrew Mark S CB 02/09/12 338,271 $ 46.64 160,977
Mcwhorter Anthony L OS 02/09-15/12 100,000 $ 47.38 48,951
Stone Spencer H O 02/09/12 7,717 $ 46.95 64,551
Svoboda Frank M VP 02/13/12 15,000 $ 47.88 4,610
Williams Glenn D OS 02/09/12 49,174 $ 46.55 59,747
TOWER FINANCIAL CORP (TOFC)

Bontrager Wendell L VP 02/09-10/12 500 $ 10.00 7,968
TRANSATLANTIC HOLDINGS INC (TRH)

Orlich Robert F D 02/14/12 30,000 $ 58.25 107,150
TRAVELERS COS INC (TRV)

Bessette Andy F VP 02/13/12 23,734 $ 58.91 35,554
Spence Kenneth Fran VP 02/16/12 20,617 $ 59.56 22,320
TRICO BANCSHARES (TCBK)

Carney Craig B VP 02/10/12 2,350 $ 16.36 36,293
UNITED BANKSHARES INC W VA (UBSI)

Hayhurst James B Jr VP 02/16/12 5,561 $ 29.13 40,954
US BANCORP (USB)
Levin Jerry W D 02/13/12 21,948 $ 29.10 0

Singh Alok D 02/14-15/12 96,939 $ 31.91 3,719,861
WADDELL & REED FINANCIAL INC -CL A (WDR)

Raines James M D 02/10/12 4,541 $ 30.10 16,198
WALKER & DUNLOP INC (WD)

Warner Richard C VP 02/15/12 5,000 $ 12.54 153,575
WASHINGTON TRUST BANCORP INC (WASH)

Hoxsie Katherine W D 02/10/12 2,000 $ 24.63 135,637
Orsinger Victor J I D 02/10/12 2,000 $ 24.27 14,669
WEBSTER FINANCIAL CORPORATION (WBS)

Smith James Copenha CB 02/15/12 5,000 $ 22.86 719,778

WELLS FARGO & COMPANY (WFC)
Heid Michael J VP 02/14/12 8,884 $ 30.15 47,426
WESTERN CAPITAL RESOURCES INC (WCRS)

Geraci Joseph Antho SH 02/15/12 1,278,963 $ 0.15 0
WESTFIELD FINANCIAL INC (WFD)

Miles Allen J III VP 02/16-17/12 13,000 $ 8.23 49,361
Sagan Leo R Jr CFO 02/17/12 3,675 $ 8.20 59,844
WORLD ACCEPTANCE CORPORATION (WRLD)

Mclean Augustus A I CB 02/17/12 6,784 $ 65.05 113,865
===========================================================================

===========================================================================
===========================================================================
===========================================================================
PURCHASES: Feb. 13-17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
1ST UNITED BANCORP INC/FL (FUBC)

Morrison Carlos D 02/15-16/12 10,000 $ 5.94 308,152
AMERICAN NATIONAL BANKSHARES INC (VA) (AMNB)

Davenport Ben J Jr D 02/13/12 4,370 $ 20.74 40,661
AMERICAN RIVER BANKSHARES (AMRB)

Muttera Robert H VP 02/15-16/12 6,500 $ 6.42 6,500
Wright Philip A D 02/10/12 4,000 $ 6.24 68,904
ASTORIA FINANCIAL CORP (AF)

Chrin John R D 02/10/12 6,500 $ 8.44 88,503
BANCORP OF NEW JERSEY INC (BKJ)

Calabrese Gerald A D 02/14/12 1,000 $ 9.34 57,351
Luppino Rosario D 02/14/12 1,000 $ 9.46 135,168
BANK MUTUAL CORP (BKMU)

Larson Gregory A VP 02/13/12 3,750 $ 4.19 46,350
BANK OF AMERICA CORP (BAC)

Powell Donald E D 02/14/12 10,000 $ 7.95 78,150
BANK OF HAWAII CORP (BOH)

Churchill Clinton R D 03/10/09 1,600 $ 28.22 20,880

BANK OF THE OZARKS INC (OZRK)
Cisne Richard L D 02/15/12 1,000 $ 29.04 15,300
BAY BANKS OF VA INC (BAYK)

Farmar Richard A II D 02/03-09/12 6,300 $ 3.96 15,951

Allen Gregory S D 08/11/11 1,000 $ 44.24 3,890
BOSTON PRIVATE FINANCIAL HOLDINGS INC (BPFH)

Sinai Allen L D 02/10-14/12 600 $ 8.92 47,254
BSB BANCORP INC/MA (BLMT)

Farrell S Warren D 02/14/12 3,000 $ 11.29 45,000
CCFNB BANCORP INC (CCFN)

Dillon Robert W D 02/13/12 4,105 $ 35.00 19,425
CENTER BANCORP INC (CNBC)

Seidman Lawrence B D 02/13/12 1,000 $ 10.15 3,762,959
CFS BANCORP INC (CITZ)

Clapp Dale S VP 02/16/12 1,500 $ 5.67 28,116
Pomranke Daryl D CEO 02/13/12 2,000 $ 5.29 64,820
CHOICE BANCORP INC (CBKW)

Glynn John F CFO 02/17/12 2,250 $ 6.25 8,662
Sitter J Scott CEO 02/15/12 550 $ 6.00 4,900
COMMERCIAL NATIONAL FINL CORP/PA (CNAF)

Welty George V CB 02/13/12 1,000 $ 26.30 12,387
COMMUNITY BANCORP INC (VT) (CMTV)

Oeschger Frederic D 02/16/12 4,100 $ 9.50 58,195
COMMUNITY BANK SHARES OF INDIANA INC (CBIN)

Bauer Michael K VP 02/17/12 1,000 $ 11.99 3,441
Stemler Kerry M D 02/10-14/12 1,475 $ 11.69 63,799
COMMUNITY PARTNERS BANCORP (CPBC)

Gregory Robert E D 02/09/12 800 $ 5.15 155,340
COMMUNITY WEST BANCSHARES (CWBC)

Plourd Martin E VP 02/16-17/12 9,000 $ 1.80 20,000
CONSUMERS BANCORP INC (CBKM)

Kishman Thomas M D 02/16/12 1,000 $ 13.25 13,705
EAGLE FINANCIAL SERVICES INC (EFSI)

Wilkins James R Jr D 02/14/12 728 $ 18.53 207,798
ES BANCSHARES INC (ESBS)

Daszkowski Walter D 02/09/12 15,000 $ 3.00 94,150
Weddell Thomas D D 02/09/12 6,666 $ 3.00 25,847
FINANCIAL INSTITUTIONS INC (FISI)

Krebs Karl Francis CFO 02/14/12 1,725 $ 17.54 1,725
FIRST BANCORP (FBNC)

Blue Daniel T Jr D 02/16-17/12 1,760 $ 10.95 4,450
FIRST BANCORP/ PUERTO RICO (FBP)

Herencia Roberto R CB 02/16/12 30,040 $ 3.73 139,681
Rodriguez Perello J D 02/16-17/12 10,000 $ 3.96 90,000
FIRST CENTURY BANKSHARES INC (FCBS)

Hypes James Ronald T 02/14/12 1,000 $ 12.68 8,765
FIRST CITIZENS BANC CORP (FCZA)

Close Michael J D 02/14-15/12 1,000 $ 5.02 215,762
FIRST FINANCIAL CORP/IN (THFF)

George Anton H D 11/15/11 650 $ 30.00 1,268
Lowery Norman D COO 08/19/11 1,450 $ 29.50 25,397
FIRST MIDWEST BANCORP INC/IL (FMBI)

Mcdonnell Patrick J D 02/14/12 3,000 $ 11.28 17,311
FLAGSTAR BANCORP INC (FBC)

Campanelli Joseph P CB 02/01-03/12 70,000 $ 0.72 1,330,249
GENWORTH FINANCIAL INC -CL A (GNW)

Alesio Steven W D 02/15/12 50,000 $ 8.91 50,000
Mead Christine B D 02/15/12 3,000 $ 8.93 3,000
GLEN BURNIE BANCORP (GLBZ)

Scherer William N S D 02/14/12 800 $ 9.50 17,765
HANCOCK HOLDING CO (HBHC)

Crowell Richard B D 02/14/12 5,000 $ 33.34 12,878
HF FINANCIAL CORP (HFFC)

Palmer John W D 02/10/12 4,000 $ 11.25 574,198
HIGHLANDS BANKCORP INC (HSBK)

Rolando Edward H D 02/13/12 500 $ 4.10 15,418
HOMESTREET INC (HMST)

Bennion Richard W H VP 02/10/12 1,100 $ 44.00 12,988
Boggs Scott M D 02/10/12 1,100 $ 44.00 1,804
Dempsey Brian P D 02/10/12 947 $ 44.00 5,500
Ederer David A D 02/10/12 2,500 $ 44.00 4,366
Evans Godfrey B VP 02/10/12 2,272 $ 44.00 2,272
Greenwald Susan C VP 02/10/12 2,300 $ 44.00 8,686
Hooston David E CFO 02/10/12 4,545 $ 44.00 4,545
Indiek Victor H D 02/10/12 570 $ 44.00 570
King Thomas E D 02/10/12 2,300 $ 44.00 2,300
Kirk George D 02/10/12 1,000 $ 44.00 1,076
Malone Michael J D 02/10/12 4,000 $ 44.00 4,000
Mason Mark K CEO 02/10/12 11,360 $ 44.00 11,360
Morrison Gerhardt D 02/10/12 500 $ 44.00 1,766
Smith Douglas Irvin D 02/10/12 22,800 $ 44.00 22,800
Williams Bruce W D 02/10/12 1,100 $ 44.00 256,441
HORIZON BANCORP (INDIANA) (HBNC)

Pairitz Peter L D 02/16/12 3,500 $ 17.83 44,853
===========================================================================

===========================================================================
===========================================================================
===========================================================================
PURCHASES: Feb. 13-17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
INTL FCSTONE INC (INTL)

Fowler John Moore D 02/13-15/12 5,500 $ 22.70 39,508
INVESTORS HERITAGE CAPITAL CORP (IHRC)

Tap & Co SH 02/10-16/12 2,720 $ 17.41 393,801
JUNIATA VALLEY FINANCIAL CORP (JUVF)

Snedeker Jan G D 02/17/12 500 $ 18.20 7,273
KKR & CO LP (
KKR)
Schoewe Thomas M D 02/13/12 6,600 $ 15.00 10,600
KNIGHT CAPITAL GROUP INC -CL A (KCG)

Hoffman Peter J O 02/10/12 19,000 $ 13.08 19,000
LAKE SHORE BANCORP INC (LSBK)

Reininga Daniel P CEO 02/14/12 1,000 $ 9.85 37,311
LANDMARK BANCORP INC (LARK)

Ball Richard A D 03/07/11 557 $ 18.94 69,324
Ball Richard A D 05/23/11 653 $ 16.30 69,324
Ball Richard A D 09/06/11 686 $ 15.70 69,324
Ball Richard A D 11/28/11 661 $ 16.50 69,324
MIDSOUTH BANCORP INC (MSL)

Simmons William M D 02/14/12 1,000 $ 13.79 228,428
ONEBEACON INSURANCE GROUP LTD -CL A (OB)

Urness Kent D D 02/14/12 1,500 $ 15.25 21,699
ONEIDA FINANCIAL CORP (ONFC)

Ryan Nancy E D 02/16/12 657 $ 9.63 14,662
PACIFIC PREMIER BANCORP INC (PPBI)

Gardner Steven R CEO 02/14/12 1,000 $ 7.42 115,972
Jones Jeff C D 02/15/12 1,000 $ 7.60 55,402
PROTECTIVE LIFE CORP (PL)

Warren William Mich D 02/14/12 4,000 $ 27.22 50,216
PULASKI FINANCIAL CORP (PULB)

Hogan Michael R D 02/13/12 5,000 $ 7.40 47,203
QCR HOLDINGS INC (QCRH)

Baird Patrick D 03/31/11 852 $ 7.68 54,123
Baird Patrick D 06/30/11 1,121 $ 9.18 54,123
Baird Patrick D 09/30/11 829 $ 8.78 54,123
Baird Patrick D 12/31/11 831 $ 9.11 54,123
Brownson James J D 03/31/11 1,165 $ 7.68 58,134
Harris John H D 02/15/12 700 $ 9.50 182,832
Helling Larry J OD 03/31/11 1,198 $ 8.39 69,618
Hultquist Douglas M CEO 03/31/11 565 $ 8.35 96,124
Kilmer Mark C D 03/31/11 925 $ 7.68 63,185
Kilmer Mark C D 06/30/11 1,346 $ 9.18 63,185
Kilmer Mark C D 09/30/11 950 $ 8.77 63,185
Kilmer Mark C D 12/31/11 911 $ 9.10 63,185
Lawson John K D 03/31/11 937 $ 7.68 50,961
Lawson John K D 06/30/11 1,321 $ 9.18 50,961
Lawson John K D 09/30/11 971 $ 8.77 50,961
Lawson John K D 12/31/11 1,012 $ 9.10 50,961
Peters Charles M D 03/31/11 890 $ 7.68 27,029
Peters Charles M D 06/30/11 1,169 $ 9.18 27,029
Peterson Ronald G D 03/31/11 922 $ 7.68 33,134
Peterson Ronald G D 06/30/11 1,222 $ 9.18 33,134
Rife John A D 06/30/11 609 $ 9.17 21,276
Sorensen Donna J D 03/31/11 699 $ 7.68 19,233
Sorensen Donna J D 06/30/11 1,022 $ 9.18 19,233
Whitcher John D 03/31/11 1,070 $ 7.68 21,864
Whitcher John D 06/30/11 1,496 $ 9.18 21,864
Whitcher John D 09/30/11 1,143 $ 8.77 21,864
Whitcher John D 12/31/11 1,116 $ 9.10 21,864
Ziegler Marie Z D 03/31/11 735 $ 7.69 19,319
Ziegler Marie Z D 06/30/11 1,027 $ 9.18 19,319
Ziegler Marie Z D 09/30/11 781 $ 8.77 19,319
Ziegler Marie Z D 12/31/11 777 $ 9.10 19,319
REPUBLIC FIRST BANCORP INC (FRBK)

Flocco Theodore J J D 02/13/12 10,000 $ 1.93 24,650
SEVERN BANCORP INC (SVBI)

Lamon John D 02/10/12 1,000 $ 3.15 42,500
SLM CORP -SER A 6.97% -PREF (SLMA)

Diefenderfer Willia D 02/10-15/12 1,800 $ 44.02 1,800
STERLING FINANCIAL CORP/(WA-SPOKANE) (STSA)

Depillo David S O 08/12-15/11 10,000 $ 13.20 237,311
SUFFOLK BANCORP (SUBK)

Danowski James E D 02/14/12 3,000 $ 12.28 23,370
SWS GROUP INC (SWS)

Meyer Frederick R D 02/10/12 10,000 $ 5.96 299,321
TF FINANCIAL CORP (THRD)

Pollack Dennis D 02/15/12 2,500 $ 23.75 7,634
UNIVEST CORP OF PENNSYLVANIA (UVSP)

Aichele William S CB 02/09/12 9,915 $ 16.15 164,979
Hochstetler Kenneth VP 02/09/12 3,145 $ 16.15 38,081
Moyer K Leon O 02/09/12 5,173 $ 16.15 84,902
Schweitzer Jeffrey CFO 02/09/12 1,052 $ 16.15 18,505
US GLOBAL INVESTORS INC -CL A (GROW)

Holmes Frank Edward CEO 02/16/12 500 $ 7.46 108,929
VALLEY COMMERCE BANCORP (VCBP)

Kitchen William Ran VP 02/10/12 600 $ 8.25 6,065
WHITE MOUNTAINS INSURANCE GROUP LTD (WTM)

Davis Morgan W D 02/14/12 3,000 $ 63.93 24,090

WSB HOLDINGS INC (WSB)
Sullivan Michael J D 02/10-15/12 5,494 $ 3.17 417,504
YADKIN VALLEY FINANCIAL CORP (YAVY)

Shuford Edwin H III VP 05/06/11 2,541 $ 1.98 2,887
===========================================================================
SALES: Feb. 13-17
---------------------------------------------------------------------------
---------------------------------------------------------------------------
AFFILIATED MANAGERS GROUP (AMG)

Dalton Nathaniel P 02/13/12 55,000 $ 06.40 62,984
Horgen Jay C CFO 02/14/12 62,501 $ 05.03 6,359
ALLIED WORLD ASSURANCE COMPANY HOLDINGS LTD (AWH)

Bell David A COO 02/16/12 3,500 $ 67.00 39,294
AMERICAN FINANCIAL GROUP INC (AFG)

Lindner S Craig CEO 02/15-16/12 100,000 $ 37.44 2,905,322
AMERIPRISE FINANCIAL INC (AMP)

Berman Walter S CFO 02/10/12 125,769 $ 53.35 63,297
Hunter Kelli A VP 02/15/12 9,000 $ 54.79 12,273
===========================================================================

===========================================================================
February 20, 2012 07:12 ET (12:12 GMT)
Document DJDN000020120217e82h003lu

Activision Publishing: Calif Superior Court Finds Co May Proceed With Jury Trial In Suit Against
Electronic Arts
17 words
22 December 2011
22:01
DJ
English
Document DJ00000020111222e7cm000rr

1,262 words
18 November 2011
13:44
DJDN
English
____________________________________________________________________________

Thursday and early Friday.

____________________________________________________________________________
ACCENTURE PLC (ACN) CL A

Casati Gianfranco (O) 11/15/11 23,461 $58.17 41,362

Kotick Robert A (CEO) 11/15/11 621,317 $12.24 416,423
Vgac LLC (SH) 11/15/11 35,000,000 $12.05 683,643,890
ALERE INC (ALR)

Eylenbosch Hilde (O) 11/15/11 17,229 $26.02 76,527
ALEXION PHARMACEUTICALS INC (ALXN)

Bell Leonard (CEO) 11/15/11 19,884 $66.79 1,845,087
ALLSCRIPTS HEALTHCARE SOLUTIONS INC (MDRX)

Gamache M L (D) 11/16/11 48,918 $20.46 42,336
AMAZON.COM INC (AMZN)

Blackburn Jeffrey M (VP) 11/15/11 3,875 $218.00 52,152
Jassy Andrew R (VP) 11/15/11 7,750 $218.00 5,840
Kessel Steven (VP) 11/15/11 3,500 $218.00 3,899
Piacentini Diego (VP) 11/15/11 10,000 $217.38 109,646
Szkutak Thomas J (CFO) 11/15/11 4,000 $217.41 44,447
Wilke Jeffrey A (VP) 11/15/11 4,000 $216.95 95,410
Wilson Lynn Michelle (VP) 11/15/11 7,500 $217.39 20,485
AMERICAN STATES WATER COMPANY (AWR)

Scanlon Patrick Rona (VP) 11/16/11 9,075 $35.75 6,706
ARIBA INC (ARBA)

Calderoni Robert M (CB) 11/15/11-11/16/11 292,553 $32.26 346,022
BARRY (R G) CORP (DFZ)

Tunney Greg (CEO) 11/15/11-11/16/11 28,438 $12.98 50

Parker Donald T (VP) 11/16/11 5,573 $53.90 11,604
BROADCOM CORP (BRCM) CL A

Tirva Robert L (VP) 11/15/11 29,644 $36.00 7,363
CBS CORP (CBS) CL B
Moonves Leslie (CEO) 11/15/11 216,763 $25.66 1,804,340
CINEMARK HOLDINGS INC (CNK)

Dombalagian Vahe A (D) 11/15/11 10,203,708 $20.00 6,640
COLGATE-PALMOLIVE CO (CL)
Samuel Derrick E (O) 11/15/11 5,000 $88.80 53,941
COSTCO WHOLESALE CORP (COST)

Brotman Jeffrey H (CB) 11/17/11 39,898 $82.48 721,718
CRACKER BARREL OLD COUNTRY STORE INC (CBRL)

Barber Douglas E (VP) 11/15/11 14,263 $46.00 0
CROSSTEX ENERGY LP (XTEX)

Lubar Sheldon B (D) 11/15/11-11/16/11 99,589 $15.84 53,860
ELLIE MAE INC (ELLI)

Corelogic Inc (SH) 11/10/11-11/11/11 1,150,000 $5.25 1,358,716
GARTNER INC (IT) CL A

Schwartz Lewis G (VP) 11/16/11 7,079 $38.50 18,254
GFI GROUP INC (GFIG)

Gooch Michael A (CB) 11/15/11 2,217,294 $4.51 48,764,197
Jersey Partners Inc (SH) 11/15/11 1,163,548 $4.51 48,657,617
HEARTWARE INTERNATIONAL INC (HTWR)

Thomas Robert Bain (D) 11/15/11-11/17/11 7,500 $63.42 84,750

Abbasi Sohaib (CB) 11/16/11 22,600 $50.00 360,597
Pidwell David W (D) 11/16/11 30,000 $50.19 16,120
Seawell A Brooke (D) 11/16/11 25,000 $49.06 18,000

Greenhill & Co Inc (SH) 11/15/11-11/17/11 45,000 $7.37 9,294,016
JARDEN CORP (JAH)

Tolbert John David (VP) 11/15/11 9,000 $30.96 58,222
LIBERTY GLOBAL INC (LBTYB) SER C

Markowski Elizabeth (VP)11/15/11-11/16/11 22,235 $40.55 90,382
MACERICH CO (MAC)
O'Hern Thomas E (CFO) 11/15/11 6,000 $49.17 144,271
MCKESSON CORP (MCK)

Julian Paul C (VP) 11/15/11 47,334 $82.65 401
METTLER-TOLEDO INTERNATIONAL (MTD)

Spoerry Robert F (CB) 11/15/11 2,709 $163.46 370,191
NORTHERN OIL & GAS INC (NOG)

Gilbertson Ryan Rand (P) 11/15/11 37,291 $23.19 837,806
OCCIDENTAL PETROLEUM CORP (OXY)

Tomich Rosemary (D) 11/16/11 6,000 $100.36 62,138
OPENTABLE INC (OPEN)

Jordan Jeffrey D (CB) 11/15/11 26,508 $37.81 281,648
ORASURE TECHNOLOGIES INC (OSUR)

Watson Douglas G (D) 11/15/11-11/16/11 40,000 $8.37 85,000
PARK-OHIO HOLDINGS CORP (PKOH)
Crawford Edward F (CB) 11/15/11-11/16/11 17,182 $19.76 2,113,643
PEETS COFFEE & TEA INC (PEET)

Baldwin Gerald A (D) 11/15/11 9,267 $57.87 17,959
PIONEER NATURAL RESOURCES CO (PXD)

Berg Mark Stephen (VP) 11/16/11 7,500 $96.17 79,471
Kellum Danny L (VP) 11/15/11 7,000 $92.61 71,524
PRECISION CASTPARTS CORP (PCP)

Stein Kevin M (VP) 11/15/11 18,663 $165.25 6,432
PRIMORIS SERVICES CORP (PRIM)

Pratt Brian (CB) 11/15/11-11/17/11 126,592 $14.28 16,665,958
PUBLIC STORAGE (PSA)

Doll David F (VP) 11/15/11-11/16/11 9,188 $126.01 7,368
QLIK TECHNOLOGIES INC (QLIK)

Margalit Erel N (D) 11/15/11 500,000 $29.88 530,597
Ott Alexander (D) 11/16/11 40,000 $30.58 253,582
QUESTCOR PHARMACEUTICALS INC (QCOR)

Farrell Stephen C (D) 11/16/11 30,000 $43.45 0
REALPAGE INC (RP)

Glover Ashley Chaffi (VP)11/15/11-11/16/11 21,000 $25.38 20,000
RF MICRO DEVICES INC (RFMD)

Neal Jerry D (VP) 11/16/11 50,000 $7.10 574,192

Kennelly Jerry M (CB) 11/15/11 33,334 $29.46 5,139,477
Mccanne Steven (OD) 11/16/11 10,664 $29.05 5,297,340
SBA COMMUNICATIONS CORP (SBAC) CL A

Stoops Jeffrey A (CEO) 11/15/11 100,000 $39.50 874,434
SELECT COMFORT CORP (SCSS)

Shames Ervin R (D) 11/16/11 14,422 $21.41 170,696
Shames Ervin R (D) 11/16/11 15,502 $21.20 185,118
SERVICESOURCE INTERNATIONAL INC (SREV)

Martinelli Raymond M (O) 11/15/11 40,000 $14.02 801
Smerklo Michael A (CB) 11/15/11 34,280 $13.73 1,601,614

Bock William G (OD) 11/15/11 9,533 $42.20 70,818
ST JUDE MEDICAL INC (STJ)

Northenscold Thomas (VP) 11/15/11 19,000 $39.38 1,863
TJX COMPANIES INC (TJX)

Sweetenham Paul (VP) 11/17/11 9,533 $60.16 70,000
TRIMBLE NAVIGATION LIMITED (TRMB)

Berglund Steven W (CEO) 11/16/11 60,000 $43.09 116,530
UGI CORP (UGI)

Jones Ernest E (D) 11/17/11 12,000 $29.45 32,968
VIASAT INC (VSAT)

Dankberg Mark D (CB) 11/15/11-11/16/11 80,000 $46.64 1,518,833

VMWARE INC (VMW) CL A
Smith S Dawn (VP) 11/16/11 4,329 $103.05 31,310
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________
November 18, 2011 08:44 ET (13:44 GMT)
Document DJDN000020111118e7bi003ch

=DJ CFA Technology:Insider Review For Week Ended Sep. 16
2,346 words
19 September 2011
12:13
DJDN
English
===========================================================================
THE WEEKLY TECHNOLOGY INSIDER REVIEW: Sep. 12-16
---------------------------------------------------------------------------
===========================================================================




===========================================================================
($ in Thousands)
---------------------------------------------------------------------------
Sep. 12-16 | Sep. 5-9
---------------------------------------------------------------------------
===========================================================================
COMPUTER SALES
---------------------------------------------------------------------------
Retail Computer & Computer Software Stores
$ 0 (424) (424) | 0 0 0
$ 0 (161) (161) | 0 (1,142) (1,142)
---------------------------------------------------------------------------
TOTAL $ 0 (585) (585) | 0 (1,142) (1,142)
===========================================================================
---------------------------------------------------------------------------
$ 0 (1,146) (1,146) | 0 (98) (98)
$ 9 0 9 | 0 (3,387) (3,387)
$ 0 (1,720) (1,720) | 0 (13,133) (13,133)
$ 201 (2,021) (1,820) | 23 (6,394) (6,371)
$ 0 (394) (394) | 0 0 0
$ 2 (1) 1 | 38 (1) 37
$ 8 (400) (392) | 0 0 0
Petroleum Refining
$ 11,369 (10,317) 1,052 | 0 (138) (138)
$ 0 (200) (200) | 0 (2,066) (2,066)
$ 13 (476) (463) | 6 (1,832) (1,826)
$ 0 0 0 | 0 (301) (301)
$ 67 (2,244) (2,177) | 0 (1,255) (1,255)
$ 32 (71) (39) | 379 (1,230) (851)
---------------------------------------------------------------------------
TOTAL $ 11,701 (18,990) (7,289) | 446 (29,835) (29,389)
===========================================================================
---------------------------------------------------------------------------
$ 581 0 581 | 951 (14) 937
$ 48 (618) (570) | 625 (684) (59)
$ 338 (9,404) (9,066) | 239 (3,667) (3,428)
---------------------------------------------------------------------------
TOTAL $ 967 (10,022) (9,055) | 1,815 (4,365) (2,550)
===========================================================================
---------------------------------------------------------------------------
$ 137 (6,432) (6,295) | 400 (2,995) (2,595)
$ 0 (1,909) (1,909) | 4 (456) (452)
$ 7 (465) (458) | 0 (596) (596)
$ 3 0 3 | 242 0 242
$ 3,604 (153,147) (149,543) | 13996 (158,111) (144,115)
$ 83 (44,546) (44,463) | 50 (46,618) (46,568)
---------------------------------------------------------------------------
TOTAL $ 3,834 (206,499) (202,665) | 14,692 (208,776) (194,084)
===========================================================================
19 Sep 2011 07:13 EDT =DJ CFA Technology:Insider Review For Week Ended Sep. 16 -2-
===========================================================================
===========================================================================
PURCHASES: Sep. 12-16
---------------------------------------------------------------------------
---------------------------------------------------------------------------
ADPT CORP (ADPT)

Lichtenstein Warren CB 09/09/11 44,900 $ 2.81 0,060,672
ALPHA & OMEGA SEMICONDUCTOR LTD (AOSL)
Bailey Howard M D 09/12/11 1,229 $ 7.64 1,229
Stevens Mark A D 09/13-15/11 40,000 $ 8.21 3,040,000
API TECHNOLOGIES CORP (ATNY)

Goldberg Eric Micha D 03/18/11 33,333 $ 6.00 63,333
Wright Donald A D 03/18/11 25,000 $ 6.00 136,669
ARABIAN AMERICAN DEVELOPMENT CO (ARSD)

Carter Nicholas CB 09/13/11 1,000 $ 3.83 464,738
Mckee Allen P D 09/12/11 1,000 $ 3.80 26,000
ATS CORP (ATSC)

Revelation Special SH 09/12/11 2,100 $ 3.29 4,962,369
AXESSTEL INC (AXST)

Hoeffner Henrik O 09/12-14/11 317,650 $ 0.18 317,650
CALUMET SPECIALTY PRODUCTS PARTNERS LP (CLMT)

Carter James S D 09/14/11 1,000 $ 18.00 48,019
Fehsenfeld Fred M J CB 09/14/11 20,000 $ 18.00 5,426,058
Funk Robert E D 09/14/11 3,500 $ 18.00 39,753
Grube Ferdinand Wil CEO 09/14/11 20,000 $ 18.00 3,939,541
Morris George C III D 09/14/11 21,000 $ 18.00 63,892
Rutigliano Nicholas D 09/14/11 10,000 $ 18.00 1,044,675
CHINA TRANSINFO TECHNOLOGY CORP (CTFO)

Xia Shudong CB 09/12-14/11 15,400 $ 3.38 6,554,516
CREXENDO INC (EXE)

Mihaylo Steven G CB 09/12/11 25,000 $ 3.75 4,125,000
CTI GROUP (HOLDINGS) INC (CTIG)

Birbeck John CEO 09/12-14/11 40,000 $ 0.11 521,600
DATAWATCH CORP (DWCH)

Mahoney David C D 09/09/11 9,600 $ 5.45 168,330
DIRECT INSITE CORP (DIRI)

Lund Thomas C D 09/13/11 25,000 $ 0.63 467,633
ELECSYS CORP (ESYS)

Gemperli Karl B CEO 09/09-12/11 3,000 $ 4.35 448,000
Reed Michael J VP 09/12/11 8,471 $ 4.30 17,171
Taylor Robert D D 09/13-14/11 2,967 $ 4.53 237,903
EMRISE CORP (EMRI)

Oliva Carmine T CB 09/09-14/11 3,000 $ 0.60 359,982
FRIENDFINDER NETWORKS INC (FFN)

Bell Marc H CEO 09/14/11 10,000 $ 2.75 5,650,402
Shashoua Ezra CFO 09/14/11 10,000 $ 2.75 10,000
Staton Daniel C CB 09/14/11 10,000 $ 2.75 5,650,396
FUSION TELECOMMUNICATIONS INTL INC (FSNN)

Brumberger E Alan D 09/12/11 277,778 $ 0.07 1,681,209
HESS CORP (HES)

Hess John B CB 09/12/11 174,950 $ 57.17 470,334
INTERACTIVE INTELLIGENCE GROUP (ININ)

Hill Mark E D 09/09/11 5,000 $ 28.41 110,772
INTERNET AMERICA INC (GEEK)

Ladin William E Jr CB 09/08-12/11 10,000 $ 0.30 1,334,291
LGL GROUP INC (LGL)
Enright Vincent D D 09/09/11 1,000 $ 9.05 1,000
LOTO INC (LOTI)

Barrs Jason Randall D 04/19/10 19,300,000 $ N/A 8,693,704
MAD CATZ INTERACTIVE INC (MCZ)

Andersen Brian John COO 09/14/11 10,000 $ 0.72 25,000
MAGNETEK INC (MAG)

Hui Hungsun Sawyer VP 09/16/11 8,000 $ 1.00 111,460
Schwenner Marty J CFO 09/14-15/11 18,100 $ 1.01 249,752
MICROVISION INC (MVIS)

Gorton Slade D 09/08/11 25,000 $ 0.91 42,788
NTN BUZZTIME INC (NTN)

Khuchua Vladimir VP 09/13/11 10,000 $ 0.43 10,000

Bkf Capital Group I SH 09/08-13/11 23,900 $ 1.90 1,676,972
Gervais William J CEO 09/14-15/11 16,500 $ 2.00 3,238,364
RAVEN INDUSTRIES INC (RAVN)

Milligan Cynthia H D 09/12/11 1,000 $ 47.74 7,124
SHENANDOAH TELECOM CO (SHEN)

Lam Dale S D 09/15/11 1,000 $ 12.24 5,353
SIERRA MONITOR CORP (SRMC)

Kramlich C Richard D 09/08/11 3,000 $ 1.49 2,585,688
SPARTON CORP (SPA)

Madlock Gordon B VP 09/09/11 500 $ 7.81 19,661
SPINE PAIN MANAGEMENT INC (SPIN)

Donovan William F CEO 09/12/11 5,000 $ 0.99 3,066,941
SYMMETRICOM INC (SYMM)

Stanzione Robert J D 09/09/11 2,000 $ 4.73 25,250
TIER TECHNOLOGIES INC -CL B (TIER)

Garg Atul VP 09/14/11 2,000 $ 3.61 2,000
Guenther Morgan P D 09/14/11 10,000 $ 3.58 10,000
TUCOWS INC (TCX)

Woroch David John VP 09/14/11 8,792 $ 0.75 172,394
VISUALANT INC (VSUL)

Erickson Ronald P CEO 09/14/11 10,000 $ 0.11 5,256,473
Scott Mark E CFO 09/14/11 20,000 $ 0.10 1,068,500
VMWARE INC -CL A (VMW)

Emc Corp SH 09/12-13/11 37,042 $ 88.49 6,628,824
WEB.COM GROUP INC (WWWW)

Facchina Philip J D 09/12/11 10,000 $ 8.15 37,962
XFORMITY TECHNOLOGIES INC (XFMY)

Ball Chris CEO 07/22/11 250,000 $ 0.05 1,365,798
Ferdowsi Farsheed D 07/22/11 250,000 $ 0.05 524,155
Johnson Kenneth D 07/22/11 250,000 $ 0.05 580,600
Rabin Jack CFO 07/22/11 250,000 $ 0.05 611,453
Seale C Drew OD 07/22/11 250,000 $ 0.05 1,365,798
Shahsavari Michael D 07/22/11 250,000 $ 0.05 688,667
ZOOM TELEPHONICS INC (ZMTP)
Donovan Joseph D 09/12/11 1,000 $ 0.35 1,000
===========================================================================
SALES: Sep. 12-16
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Ory Andrew D CEO 09/08/11 31,750 $ 50.04 4,049,908
===========================================================================

===========================================================================
===========================================================================
===========================================================================
SALES: Sep. 12-16
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Martin Steven R VP 09/13-15/11 4,500 $ 12.11 14,151
Seguin John L VP 09/09-13/11 10,835 $ 11.78 40,473
Shaw Douglas J CEO 09/12/11 25,000 $ 11.50 328,168

Coates Norman V D 09/14/11 25,000 $ 16.00 1,259,445
NETLOGIC MICROSYSTEMS INC (NETL)

Dimitrelis Dimitrio VP 09/08/11 2,500 $ 33.00 71,400
NETSUITE INC (N)

Goldberg Evan CB 09/12/11 3,000 $ 29.54 2,877,521
Ramsey James Burr VP 09/12/11 1,500 $ 29.42 111,122
NVIDIA CORP (NVDA)

Burns Karen CFO 09/14/11 6,000 $ 15.23 24,053
ORACLE CORP (ORCL)

Garcia-Molina Hecto D 09/15/11 3,667 $ 28.57 5,000
PLANTRONICS INC (PLT)

Kannappan S Kenneth CEO 09/08-09/11 64,100 $ 30.31 111,544

Bjork Lars CEO 09/12/11 40,000 $ 22.36 865,779
Laird Douglas VP 09/09/11 9,000 $ 23.50 0
Wahl Paul D 09/12/11 10,000 $ 22.03 226,524
QLOGIC CORP (QLGC)

Klein Roger J VP 09/15/11 9,119 $ 14.37 5,000

Schoenbaum Alan VP 09/14/11 650 $ 36.46 120,522
REALPAGE INC (RP)

Lebenberg Margot T VP 09/13-14/11 11,000 $ 19.92 14,504
Leeds Jeffrey T D 09/08/11 21,793 $ 20.20 614,523
RF MICRO DEVICES INC (RFMD)

Rudy Suzanne B T 09/15/11 5,896 $ 6.85 138,843
RIGHT NOW TECHNOLOGIES INC (RNOW)

Gianforte Greg R CB 09/14/11 50,000 $ 33.18 3,679,589

Koplow Hilarie A VP 09/15/11 500 $ 30.60 23,986
Smith Graham V CFO 09/14-16/11 14,000 $ 30.47 14,145
SANDISK CORP (SNDK)

Mehrotra Sanjay CEO 09/12/11 10,000 $ 39.36 35,392
SEMTECH CORP (SMTC)

Maheswaran Mohan CEO 09/14/11 25,000 $ 23.69 52,311

Ivester Jonathan D VP 09/13/11 4,950 $ 34.46 102,483
Walsh Paul V Jr CFO 09/13/11 750 $ 35.00 56,127
SOHU.COM INC (SOHU)

Wang Xin P 09/12/11 6,250 $ 74.44 0

Strelzick Paul VP 09/13/11 4,500 $ 22.49 43,877
SUCCESSFACTORS INC (SFSF)

Dalgaard Lars CEO 09/13-14/11 19,200 $ 22.87 111,634
SUNOCO INC (SUN)

Kaiser James G D 09/09/11 3,332 $ 37.25 32,435
SUREWEST COMMUNICATIONS CO (SURW)

Barber Scott K COO 09/14/11 5,694 $ 11.20 53,736

Prague Ronald VP 09/15/11 4,000 $ 27.03 9,063
TAKE-TWO INTERACTIVE SOFTWARE INC (TTWO)

Sheresky Michael D 09/12-14/11 1,366 $ 13.53 49,385
TELENAV INC (TNAV)

Rennard Robert W O 09/12-15/11 22,000 $ 9.08 848,927
TIGERLOGIC CORP (TIGR)

Barrett Philip Dean D 09/12/11 3,000 $ 2.80 226,141
TRANSACT TECHNOLOGIES INC (TACT)

Shuldman Bart C CB 09/12/11 6,000 $ 8.80 30,942
VERITEC INC (VRTC)

Johanns Lawrence J SH 09/12/11 26,682 $ 0.33 8,273,218
Matthews Group Llc SH 09/12/11 210,000 $ 0.33 8,273,218
Tran Van Thuy CB 09/12/11 50,000 $ 0.20 8,352,468
WESTELL TECHNOLOGIES INC -CL A (WSTL)

Gilbert Richard S CB 09/15/11 20,000 $ 2.24 828,817

Barfield Lowry VP 09/14/11 5,000 $ 15.57 290,766
Foster Paul L CB 09/14-15/11 127,500 $ 15.82 6,382,940
YAHOO! INC -CL A (YHOO)

Filo David O 09/14/11 166,500 $ 14.54 3,028,890
===========================================================================

===========================================================================
September 19, 2011 07:14 ET (11:14 GMT)
Document DJDN000020110919e79j002dc

=DJ CFA Substantial Insider Sales: Afternoon Report
1,603 words
16 September 2011
21:44
DJDN
English
____________________________________________________________________________

least $250,000 reported to the Securities and Exchange Commission and
compiled after 8:30 a.m. EDT Friday.

____________________________________________________________________________
ANIXTER INTL INC (AXE)

Grubbs Robert W Jr (D) 9/15/11 8,129 $57.84 167,103
ARCH CAPITAL GROUP LTD (ACGL)

Works Robert F (D) 9/15/11 10,000 $33.38 78,220
BORG WARNER INC (BWA)

Drummond Jere A (D) 9/15/11 8,000 $70.00 21,435
CELGENE CORP (CELG)

Burton Graham (VP) 9/15/11 5,000 $60.76 53,323
CF INDUSTRIES HOLDINGS INC (CFO)

Wilson Stephen R (CB) 9/15/11 20,000 $180.11 139,886
CLIFFS NATURAL RESOURCES INC (CLF)

Carrabba Joseph A (CB) 9/14/11-9/15/11 10,000 $78.35 196,335
COHEN & STEERS INC (CNS)

Stadler Matthew S (CFO) 9/14/11 15,000 $36.16 181,182
DOLLAR GENERAL CORP (DG)

Buck Holdings Lp (SH) 9/14/11 27,964,291 $33.71 214,032,766
Kkr Fund Holdings Lp (SH) 9/14/11 14,573,360 $33.71 111,541,429
DOMTAR CORP (UFS)

Thomas Richard L (VP) 9/16/11 6,666 $83.19 5,222
EXXON MOBIL CORP (XOM)

Humphreys Donald D (T) 9/14/11 10,000 $73.00 688,672
GENPACT LTD (G)

Pryor Robert (VP) 9/14/11 128,000 $15.93 175,000
HEARTLAND PAYMENT SYSTEMS INC (HPY)

Baldwin Robert H B J (P) 9/14/11 32,500 $20.99 572,920
Carr Robert O (CB) 9/14/11 29,984 $20.95 571,407
HENRY (JACK) & ASSOCIATES (JKHY)

Henry Michael E (CB) 9/15/11 100,000 $29.30 436,011
ILLUMINA INC (ILMN)

Henry Christian O (CFO) 9/14/11 17,500 $50.72 29,455
MERIDIAN BIOSCIENCE INC (VIVO)

Kraeutler John A (CEO) 9/14/11 23,070 $17.08 195,260
Motto William J (CB) 9/14/11 19,427 $17.10 568,470
METROPCS COMMUNICATIONS INC (PCS)

Patterson Arthur C (D) 9/14/11 750,000 $10.37 5,191,480
NEXTERA ENERGY INC (NEE)

Robo James L (P) 9/15/11 8,000 $54.43 184,209
NXSTAGE MEDICAL INC (NXTM)

Chambon Philippe O (CB) 9/14/11 20,110 $18.58 2,105,587

Gianforte Greg R (CB) 9/14/11 50,000 $33.18 3,679,589
RIVUS BOND FUND (BDF)

Mbia Inc (SH) 9/14/11-9/15/11 16,600 $18.52 344,267
SALLY BEAUTY HOLDINGS INC (SBH)

Golliher John R (O) 9/14/11-9/16/11 376,659 $17.51 52,115
TIFFANY & CO (TIF)

King Jon M (VP) 9/15/11 15,000 $75.69 18,065
VERTEX PHARMACEUTICALS INC (VRTX)

Mueller Peter (VP) 9/15/11 9,500 $50.19 138,230
VF CORP (VFC)
Sharp M Rust (D) 9/16/11 4,800 $125.00 3,372
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________
===========================================================================
===========================================================================
SALES: Sep. 12-16
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Kelly Brian G CB 09/12-14/11 1,666,034 $ 11.59 652,274
ADVENT SOFTWARE INC (ADVS)

Dimarco Stephanie G CEO 09/14/11 18,400 $ 23.02 2,667,092
AEHR TEST SYSTEMS (AEHR)

Patel Mukesh D 09/13/11 1,000 $ 1.06 19,929
ALTERA CORP (ALTR)

Lyman Kevin H VP 09/14/11 13,770 $ 37.40 0
Papa George A VP 09/12/11 25,000 $ 36.00 13,407

Edenfield J Michael VP 09/08-15/11 9,400 $ 7.53 374,629
APPLIED MATERIALS INC (AMAT)

Kifer Ron O 09/08/11 50,000 $ 10.89 40,290
Pappis Charles C O 09/09/11 5,698 $ 10.79 4,430
ARIBA INC (ARBA)

Wallman Richard F D 09/13/11 15,000 $ 27.76 30,844
ASPEN TECHNOLOGY INC (AZPN)

Fusco Mark CEO 09/13/11 30,000 $ 16.60 591,663
Kotzabasakis Manoli VP 09/14/11 6,250 $ 16.48 146,185
ASTRO-MED INC (ALOT)

O'Connell Joseph P CFO 09/09/11 38,241 $ 7.30 88,369
AVAGO TECHNOLOGIES LTD (AVGO)

Bettinger Douglas R CFO 09/13/11 97,500 $ 34.00 6,803
BROADSOFT INC (BSFT)

Hoffpauir Scott D O 09/12/11 16,000 $ 28.80 227,585
Tessler Michael CEO 09/13/11 15,000 $ 30.00 219,905
Tholen James Albert CFO 09/12/11 4,000 $ 28.81 104,273
CAVIUM INC (CAVM)

Reddy C N D 09/08/11 3,416 $ 31.60 110,580
CERNER CORP (CERN)

Patterson Neal L CB 09/08/11 2,500 $ 66.42 2,960,512
Sims Randy D VP 09/14/11 5,000 $ 69.00 2,581
Wilson Julie M VP 09/14/11 8,000 $ 68.41 20,788
CEVA INC (CEVA)

Silver Louis D 09/13/11 13,000 $ 27.01 0
CIENA CORP (CIEN)

Locoh-Donou Francoi VP 09/13/11 5,000 $ 13.68 178,863
Smith Gary B CEO 09/13/11 14,400 $ 13.03 479,424
CISCO SYSTEMS INC (CSCO)

Elfrink Wim VP 09/15/11 25,000 $ 16.44 447,068
Yang Jerry D 09/14/11 15,000 $ 16.51 93,529
COGENT COMMUNICATIONS GROUP INC (CCOI)

Beury Robert N Jr VP 09/15/11 1,000 $ 13.28 69,340
COGNIZANT TECHNOLOGY SOLUTIONS CORP -CL A (CTSH)

Ramakrishnan Chandr O 09/14/11 3,000 $ 64.50 72,372
COMPUTER PROGRAMS & SYSTEMS INC (CPSI)

Hinckle Robert D VP 09/14/11 1,000 $ 70.00 11,000
CVD EQUIPMENT CORP (CVV)

Rosenbaum Leonard A CB 09/12-14/11 23,000 $ 16.30 1,151,450
DATALINK CORP (DTLK)

Loftus Margaret Ann D 09/14/11 2,250 $ 10.21 N/A

Leap Arnold P VP 09/13/11 25,000 $ 0.63 331,331
EASYLINK SERVICES INTERNATIONAL CORP -CL A (ESIC)

Deuel Teresa A VP 09/09-15/11 15,000 $ 4.38 20,000
Shipley Glen E CFO 09/15/11 5,291 $ 4.51 30,000
Stallings Thomas J CEO 09/09-15/11 16,250 $ 4.38 125,000
ETERNAL ENERGY CORP (EERG)

Libra Advisors Llc SH 09/14/11 431,900 $ 0.18 5,738,100
EXXON MOBIL CORP (XOM)

Humphreys Donald D T 09/14/11 10,000 $ 73.00 688,672
FORTINET INC (FTNT)

Whittle John VP 09/12/11 1,040 $ 17.50 0
GAMESTOP CORP -CL A (GME)

Shern Stephanie M D 09/16/11 17,000 $ 24.95 11,264
GOOGLE INC -CL A (GOOG)

Page Lawrence CEO 09/12-14/11 83,334 $ 26.98 115,000
Pichette Patrick CFO 09/08/11 1,137 $ 33.80 0
GT ADVANCE TECHNOLOGIES INC (GTAT)

Gutierrez Thomas CEO 09/14-16/11 234,574 $ 11.11 65,756
HENRY (JACK) & ASSOCIATES (JKHY)

Henry Michael E CB 09/15/11 100,000 $ 29.30 436,011
HOLLYFRONTIER CORP (HFC)

Reid Jack P D 09/08/11 194,125 $ 37.54 978,100
ID SYSTEMS INC (IDSY)

Ehrman Michael L O 09/13/11 17,343 $ 5.05 211,638
INTERACTIVE INTELLIGENCE GROUP (ININ)

Hynes Pamela Jo VP 09/09/11 2,200 $ 28.26 11,055
INTERMEC INC (IN)

Trinity Universal I SH 09/08-12/11 150,000 $ 6.75 7,309,764
INTEVAC INC (IVAC)

Fairbaim Kevin P CEO 09/08-14/11 14,687 $ 6.92 42,014
INTUIT INC (INTU)

Batchelder David H D 09/09-14/11 2,524,784 $ 46.70 5,569,177
Williams R Neil CFO 09/12-13/11 122,142 $ 46.61 13,021

Jones Terry L D 09/13-15/11 150,000 $ 7.06 572,856
JABIL CIRCUIT INC (JBL)

Morean William D CB 09/12/11 39,550 $ 15.63 4,086,622
LOGMEIN INC (LOGM)

Anka Marton B O 09/12/11 9,384 $ 29.73 682,080
Simon Michael K CB 09/09/11 20,000 $ 29.72 714,550
MEDIDATA SOLUTIONS INC (MDSO)

Hirschfeld Steven I VP 09/14-15/11 8,333 $ 16.98 52,483
Sherif Tarek CB 09/14-15/11 33,334 $ 16.85 997,509
MICROSOFT CORP (MSFT)

Nadella Satya O 09/12/11 24,313 $ 25.43 171,320

Dunlap Janet M VP 09/12/11 3,500 $ 11.40 22,969
===========================================================================

===========================================================================
September 19, 2011 07:12 ET (11:12 GMT)
Document DJDN000020110916e79g006py

620 words
15 September 2011
13:44
DJDN
English
____________________________________________________________________________

Wednesday and early Thursday.

____________________________________________________________________________

Kelly Brian G (CB) 9/12/11-9/14/11 1,666,034 $11.59 652,274
AIR METHODS CORP (AIRM)

Todd Aaron D (CEO) 9/12/11-9/13/11 14,457 $61.41 42,262
ALTERA CORP (ALTR)

Lyman Kevin H (VP) 9/14/11 13,770 $37.40 0

Tessler Michael (CEO) 9/13/11 15,000 $30.00 219,905
CLIFFS NATURAL RESOURCES INC (CLF)

Carrabba Joseph A (CB) 9/12/11-9/13/11 10,000 $75.87 206,335
COSTCO WHOLESALE CORP (COST)

Sinegal James D (CEO) 9/14/11 8,000 $80.86 2,068,161

Rosenbaum Leonard A (CB) 9/12/11-9/14/11 23,000 $16.30 1,151,450
DISNEY (WALT) COMPANY (DIS)

Bryson John E (D) 9/13/11-9/14/11 16,500 $31.87 51,731
GOOGLE INC (GOOG) CL A

Page Lawrence (CEO) 9/13/11-9/14/11 44,288 $529.15 115,000
Page Lawrence (CEO) 9/12/11-9/13/11 39,046 $524.53 131,510
GREEN PLAINS RENEWABLE ENERGY INC (GPRE)

Greenstar North Amer (SH) 9/9/11 3,500,000 $8.00 7,727,653
HMS HOLDINGS CORP (HMSY)

Dragonetti Christina (VP) 9/12/11 12,000 $24.78 240,783
INTUIT INC (INTU)

Williams R Neil (CFO) 9/12/11-9/13/11 122,142 $46.61 13,021
LIQUIDITY SERVICES INC (LQDT)

Clough Phillip A (D) 9/12/11-9/13/11 29,393 $29.00 15,167
Roy Cayce (VP) 9/12/11 25,000 $28.95 0
LOOPNET INC (LOOP)

Byrne Thomas P (P) 9/12/11-9/14/11 32,299 $17.32 264,321
MARLIN BUSINESS SERVICES CORP (MRLN)

Dyer Daniel P (CEO) 9/13/11 47,540 $10.30 179,352
Pelose George D (COO) 9/13/11-9/14/11 28,274 $10.30 91,981
MCKESSON CORP (MCK)

Julian Paul C (VP) 9/13/11 47,333 $74.03 400
MOVE INC (MOVE)

Nierenberg Investmen (SH) 9/12/11 7,000,000 $1.40 21,155,339
NXSTAGE MEDICAL INC (NXTM)

Burbank Jeffrey H (CEO) 9/12/11-9/13/11 16,750 $18.04 503,905

Bjork Lars (CEO) 9/12/11 40,000 $22.36 865,779
QUESTCOR PHARMACEUTICALS INC (QCOR)

Bailey Don M (CEO) 9/12/11 30,000 $26.77 99,500
Blutt Mitchell J (D) 9/12/11 370,000 $26.13 529,952
ROYAL GOLD INC (RGLD)

Dempsey Stanley (CB) 9/12/11 5,000 $80.66 133,381
SANDISK CORP (SNDK)

Mehrotra Sanjay (CEO) 9/12/11 10,000 $39.36 35,392
SEMTECH CORP (SMTC)

Maheswaran Mohan (CEO) 9/14/11 25,000 $23.69 52,311
SFN GROUP INC (SFN)

Smith Mark W (CFO) 9/2/11 108,789 $14.00 0
WATSON PHARMACEUTICALS INC (WPI)

Turner Andrew L (CB) 9/14/11 4,000 $65.90 3,177
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________
September 15, 2011 08:44 ET (12:44 GMT)
Document DJDN000020110915e79f003k5

=DJ CFA Technology:Insider Review For Week Ended Sep. 9
2,767 words
12 September 2011
12:12
DJDN
English
===========================================================================
THE WEEKLY TECHNOLOGY INSIDER REVIEW: Sep. 5-9
---------------------------------------------------------------------------
===========================================================================




===========================================================================
($ in Thousands)
---------------------------------------------------------------------------
Sep. 5-9 | Aug. 29-Sep. 2
---------------------------------------------------------------------------
===========================================================================
COMPUTER SALES
---------------------------------------------------------------------------
Retail Computer & Computer Software Stores
$ 0 0 0 | 0 (101) (101)
$ 0 (1,142) (1,142) | 0 (176) (176)
---------------------------------------------------------------------------
TOTAL $ 0 (1,142) (1,142) | 0 (277) (277)
===========================================================================
---------------------------------------------------------------------------
$ 0 (98) (98) | 0 (112) (112)
$ 0 (3,387) (3,387) | 39 (2,136) (2,097)
$ 0 (13,133) (13,133) | 0 (3,536) (3,536)
$ 23 (6,394) (6,371) | 118 (2,035) (1,917)
$ 0 0 0 | 0 (170) (170)
$ 0 0 0 | 0 (2,340) (2,340)
$ 38 (1) 37 | 177 (90) 87
$ 0 0 0 | 396 (391) 5
Petroleum Refining
$ 0 (138) (138) | 231 (3,633) (3,402)
$ 0 (2,066) (2,066) | 0 (56) (56)
$ 6 (1,832) (1,826) | 27 (2,257) (2,230)
$ 0 (301) (301) | 0 (15) (15)
$ 0 (1,255) (1,255) | 0 (1,616) (1,616)
$ 379 (1,230) (851) | 7 (1,874) (1,867)
---------------------------------------------------------------------------
TOTAL $ 446 (29,835) (29,389) | 995 (20,261) (19,266)
===========================================================================
---------------------------------------------------------------------------
Electronic Capacitors
$ 0 0 0 | 0 (231) (231)
$ 951 (14) 937 | 193 (305) (112)
$ 625 (684) (59) | 78 (656) (578)
$ 239 (3,667) (3,428) | 547 (4,388) (3,841)
---------------------------------------------------------------------------
TOTAL $ 1,815 (4,365) (2,550) | 818 (5,580) (4,762)
===========================================================================
---------------------------------------------------------------------------
$ 400 (2,995) (2,595) | 3 (1,939) (1,936)
$ 4 (456) (452) | 4 (764) (760)
$ 0 (596) (596) | 66 0 66
$ 242 0 242 | 202 0 202
$ 13,996 (158,111) (144,115) | 100 (12,870) (12,770)
$ 50 (46,618) (46,568) | 0 (110) (110)
---------------------------------------------------------------------------
TOTAL $ 14,692 (208,776) (194,084) | 375 (15,683) (15,308)
===========================================================================
===========================================================================
===========================================================================
SALES: Sep. 5-9
---------------------------------------------------------------------------
---------------------------------------------------------------------------
ELEPHANT TALK COMMUNICATIONS (ETAK)
Vermeulen Alex O 09/07/11 10,000 $ 3.10 292,313
ESCO TECHNOLOGIES INC (ESE)

Mcconnell James M D 09/01/11 2,000 $ 30.53 19,140
Muenster Gary E CFO 09/01/11 1,200 $ 31.06 153,965
ESPEY MFG & ELECTRONICS CORP (ESP)

Pinsley Howard M CB 09/01-07/11 552 $ 25.25 101,071
EXTREME NETWORKS INC (EXTR)

Stitt Gordon L D 08/31/11 3,800 $ 2.80 3,659,033
Stitt Gordon L D 09/07/11 3,800 $ 2.77 3,655,233
GARMIN LTD (GRMN)

Huang Pao-Chang O 09/07/11 11,000 $ 32.46 9,000

Brin Sergey OD 09/06/11 83,334 $ 15.77 0
Pichette Patrick CFO 09/06/11 1,654 $ 10.82 1,137
GT ADVANCE TECHNOLOGIES INC (GTAT)

Gray David C VP 09/01-02/11 25,995 $ 11.12 42,581
Keck David W VP 09/07/11 48,734 $ 11.79 36,227
Kim Ho-Il VP 09/02/11 5,547 $ 11.17 20,914
HEALTHWAREHOUSE.COM INC (HEWA)

Rock Castle Holding SH 08/10/11 1,000 $ 3.85 1,179,212
Rock Castle Holding SH 09/02/11 1,179,212 $ 2.90 0

Abbasi Sohaib CB 09/07/11 21,700 $ 37.15 360,597
INTERMEC INC (IN)

INTEVAC INC (IVAC)

Fairbaim Kevin P CEO 09/06-07/11 5,500 $ 7.15 42,014
INTUIT INC (INTU)

Batchelder David H D 09/06-08/11 3,037,716 $ 47.39 8,093,961
J2 GLOBAL COMMUNICATIONS (JCOM)

Cresci Robert J D 09/06/11 10,000 $ 30.06 27,429

Morean William D CB 09/08/11 39,550 $ 16.64 4,126,172
JDS UNIPHASE CORP (JDSU)

Kennedy Kevin D 09/01-02/11 11,000 $ 13.39 167,982
LOGMEIN INC (LOGM)

Anka Marton B O 09/06/11 4,384 $ 29.76 686,464
Benson Steven J D 09/01-07/11 125,000 $ 30.11 1,625,000
Donahue Michael J VP 09/07/11 2,000 $ 30.38 0

Constellation Softw SH 09/07-09/11 10,998 $ 11.69 1,695,862

Ashuri Roni VP 09/06-08/11 31,878 $ 30.50 192,619
Cohen Shai COO 09/06-08/11 31,914 $ 30.50 200,121
Gray Michael CFO 09/06/11 4,285 $ 27.84 439
Kagan Michael VP 09/06-07/11 8,000 $ 29.03 151,754
Waldman Eyal CB 09/01-07/11 3,333 $ 29.59 1,548,723
MICROSOFT CORP (MSFT)

Brod Frank H O 09/02-07/11 15,000 $ 25.86 137,341
NETLOGIC MICROSYSTEMS INC (NETL)

Dimitrelis Dimitrio VP 09/07/11 5,000 $ 31.20 59,400
NETSUITE INC (N)

Goldberg Evan CB 09/06/11 3,000 $ 29.41 2,877,521
Mcgeever James COO 09/01/11 5,000 $ 31.92 324,627

Chambers Steven G VP 09/01/11 16,059 $ 18.49 597,023
Ricci Paul A CB 09/01/11 176,155 $ 18.53 2,321,478
PARAMETRIC TECHNOLOGY CORP (PMTC)

Gremley Robert C VP 09/07/11 9,183 $ 17.07 50,224
Grierson Donald K D 09/07-08/11 30,000 $ 16.84 86,923
Heppelmann James E CEO 09/06/11 90,000 $ 16.28 228,563
Porter Michael E D 09/08/11 51,900 $ 16.72 193,698

Kannappan S Kenneth CEO 09/07/11 40,000 $ 30.48 111,544
PROBE MANUFACTURING INC (PMFI)

Kb Development Grou SH 11/04-05/10 923,191 $ 0.01 4,310,017
Kb Development Grou SH 04/05/11 99,900 $ 0.01 4,310,017
Kb Development Grou SH 07/13/11 1,666,892 $ 0.01 4,310,017

Matthews Patrick M VP 09/01/11 3,000 $ 35.90 186,013
Moorman Lewis OD 09/01-06/11 77,000 $ 34.35 1,060,541

Gianforte Greg R CB 09/01-02/11 50,000 $ 31.30 3,729,589

Gottfried Randy S CFO 09/07/11 20,000 $ 24.14 442,807


Baur Michael L CEO 09/07-08/11 34,244 $ 29.34 126,150
SEMTECH CORP (SMTC)

Maheswaran Mohan CEO 09/06/11 1,500 $ 20.35 52,311
SHORETEL INC (SHOR)

Basart Edwin J OD 09/08/11 5,000 $ 7.04 518,630
SOHU.COM INC (SOHU)

Yu Carol P 09/07/11 7,500 $ 79.00 9,750
SPS COMMERCE INC (SPSC)

Frome James J VP 09/01/11 3,375 $ 18.00 0
SUREWEST COMMUNICATIONS CO (SURW)

Herrick David R O 09/06/11 1,846 $ 11.74 9,028

Romza John VP 09/07/11 30,000 $ 52.98 92,728
TELEDYNE TECHNOLOGIES INC (TDY)

Kuelbs John T VP 09/07/11 30,000 $ 51.41 164,824
TELENAV INC (TNAV)

Chao Y C VP 09/06/11 6,000 $ 8.56 913,726
Hillberg Loren E O 09/06/11 2,200 $ 8.57 0
Miller Douglas S CFO 09/08/11 5,000 $ 8.96 0
Rennard Robert W O 09/06/11 6,000 $ 8.56 864,927
TRUNKBOW INTL HOLDINGS LTD (TBOW)

Li Dong D 08/29-30/11 9,176 $ 3.12 47,914
===========================================================================

===========================================================================
===========================================================================
===========================================================================
SALES: Sep. 5-9
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TRUNKBOW INTL HOLDINGS LTD (TBOW)

Li Dong D 09/01-02/11 5,410 $ 3.00 47,914

===========================================================================

===========================================================================
===========================================================================
===========================================================================
PURCHASES: Sep. 5-9
---------------------------------------------------------------------------

---------------------------------------------------------------------------
ADPT CORP (ADPT)

Lichtenstein Warren OD 09/02-08/11 283,300 $ 2.82 0,015,772
ADVANCED PHOTONIX INC -CL A (API)

Anderson Jeffrey J CFO 09/02-06/11 14,576 $ 0.99 114,776
CHINA TRANSINFO TECHNOLOGY CORP (CTFO)

Xia Shudong CB 09/01-09/11 31,900 $ 3.34 6,539,116
CREXENDO INC (EXE)

Mihaylo Steven G CB 09/07/11 100,000 $ 4.00 4,100,000
DDI CORP/CA (DDIC)

Riley Bryant R D 09/01-06/11 75,745 $ 6.96 1,216,402
Williams Mikel H CEO 09/06/11 10,000 $ 6.75 68,667
EMRISE CORP (EMRI)

Oliva Carmine T CB 08/31/11 2,500 $ 0.68 356,982
EPOCRATES INC (EPOC)

Brandt Peter C D 09/06-07/11 25,000 $ 9.70 25,000
FRONTIER COMMUNICATIONS CORP (FTR)

Abernathy Kathleen VP 09/09/11 40,000 $ 6.81 156,264
Fraioli Edward D 09/09/11 2,250 $ 6.82 4,750
GRAPHON CORP (GOJO)

Ledger Steven A D 09/01/11 1,250,000 $ 0.20 1,250,000
HICKORY TECH CORP (HTCO)

Dewbrey Diane L D 09/07/11 3,000 $ 9.24 11,435
INTERNAP NETWORK SERVICES CORP (INAP)

Wilson Debora J D 09/06/11 10,915 $ 4.59 58,492
IXIA (XXIA)
Buckly Ronald W VP 09/06/11 5,000 $ 7.21 688,786
MAD CATZ INTERACTIVE INC (MCZ)

Richardson Darren CEO 09/07/11 30,000 $ 0.71 910,000
MATTSON TECHNOLOGY INC (MTSN)

Dyck Richard E D 09/06/11 5,000 $ 1.29 21,400
MAXLINEAR INC -CL A (MXL)

Seendripu Kishore CB 09/06/11 41,437 $ 5.41 41,437

Cowell Richard A D 09/08/11 10,000 $ 0.90 35,488
Mulligan Perry D 09/08/11 10,000 $ 0.86 18,696
O'Sullivan Joseph P VP 09/08/11 10,000 $ 0.87 10,000
Tokman Alexander Y CEO 09/08/11 10,000 $ 0.92 692,856
Turner Brian V D 09/08/11 10,000 $ 0.86 25,788
Wilson Jeff T CFO 09/09/11 2,900 $ 0.85 149,305
PRIMUS TELECOMMUNICATIONS GROUP INC (PTGI)

Aquino Peter D CB 08/30/11 5,500 $ 11.50 169,046
SMTC CORP (SMTX)

Germain Claude CEO 09/01/11 20,000 $ 1.50 32,400

SOUNDBITE COMMUNICATIONS INC (SDBT)
Lobo Vernon F D 09/02/11 1,834 $ 2.35 6,084
THQ INC (THQI)

Good Martin VP 09/02/11 10,000 $ 1.82 23,590
UNITEK GLOBAL SERVICES INC (UNTK)

Snell Norman O 09/02/11 1,000 $ 4.80 8,783

Emc Corp SH 09/06-08/11 158,592 $ 86.02 6,591,782
WEB.COM GROUP INC (WWWW)

Facchina Philip J D 09/06/11 10,000 $ 8.15 27,962
===========================================================================
SALES: Sep. 5-9
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Bowen Gary J D 09/07/11 200,000 $ 49.11 532,193

Wereb Stephen G O 09/07/11 9,023 $ 11.66 0
ADVENT SOFTWARE INC (ADVS)

Dimarco Stephanie G CEO 09/01/11 11,600 $ 23.11 2,685,492
AEHR TEST SYSTEMS (AEHR)

Patel Mukesh D 09/06/11 1,000 $ 1.11 20,929

Edenfield J Michael VP 09/06-07/11 15,000 $ 7.32 374,629
AMERICAN TOWER CORP -CL A (AMT)

Taiclet James D Jr CB 09/01/11 60,000 $ 54.48 40,475
ANSYS INC (ANSS)

Solecki Joseph S VP 09/07/11 8,500 $ 51.96 75,210

Galvin Michael CFO 09/01-02/11 3,993 $ 20.94 78,757
Melkote Keerti OD 09/01/11 50,000 $ 21.12 1,262,411
Sheth Hitesh COO 09/01-02/11 20,793 $ 20.73 7,081
ASPEN TECHNOLOGY INC (AZPN)

Jennings Stephen M D 09/07/11 11,253 $ 16.66 16,209
ATS CORP (ATSC)

BMC SOFTWARE INC (BMC)

Miller William D VP 09/06/11 7,266 $ 38.17 105,473

Goodman Robert P D 09/01-08/11 8,631 $ 30.95 150,657
Tessler Michael CEO 09/01-08/11 14,000 $ 30.65 234,905
CALIX INC (CALX)

Ashby Michael CFO 09/01/11 5,000 $ 14.58 1,437,528
CENTURYLINK INC (CTL)

Ancell Christopher O 09/06/11 6,372 $ 33.23 147,098
Charles Glen R CFO 09/09/11 500 $ 17.17 15,000
Rosenbaum Leonard A CB 09/01-09/11 80,280 $ 18.75 1,174,450
Teitelbaum Martin J OD 09/02-09/11 14,800 $ 18.87 42,110
CVR ENERGY INC (CVI)

Lipinski John J CB 09/01/11 5,000 $ 27.63 565,298
EARTHLINK INC (ELNK)

Scott Robert L O 09/01/11 4,000 $ 7.32 7,672

Deuel Teresa A VP 09/02-08/11 12,000 $ 4.51 20,000
Shipley Glen E CFO 09/08/11 5,291 $ 4.59 30,000
EGAIN COMMUNICATIONS CORP (EGAN)

Oak Hill Capital Ma SH 09/07/11 1,138 $ 4.25 133,654
===========================================================================

===========================================================================
September 12, 2011 07:14 ET (11:14 GMT)
Document DJDN000020110912e79c002la

UPDATE: US Supreme Court Rules California Videogame Law Unconstitutional
608 words
27 June 2011
17:25
DJON
English
(Adds detail on the ruling throughout.)
By Brent Kendall
WASHINGTON -(Dow Jones)- The U.S. Supreme Court ruled Monday that a California law banning the sale
of violent videogames to minors is unconstitutional because it violates free speech protections of the First
Amendment.
The court ruled for the videogame industry on a 7-2 vote, though two members of the majority did not join the
main opinion in the case.
"Even where the protection of children is the object, the constitutional limits on governmental action apply,"
Justice Antonin Scalia wrote in an 18-page opinion, which was joined by four other justices.
Scalia rejected California's argument that lawmakers should be able to ban sales of violent video games to
those under 18 just as they can restrict the sale of sexual material to minors. He also said there was no
longstanding American tradition of restricting children's access to depictions of violence.
"Certainly the books we give children to read--or read to them when they are younger--contain no shortage of
gore," Scalia said. "Cinderella's evil stepsisters have their eyes pecked out by doves. And Hansel and Gretel
(children!) kill their captor by baking her in an oven."
Chief Justice John Roberts and Justice Samuel Alito concurred in the ruling against California but criticized
Scalia for not taking a more cautious approach that would leave room for states to enact narrower laws that
would pass constitutional muster.
Alito said the level of violence in some videogames was "astounding," and he expressed concern that more
sophisticated games will allow "troubled teens to experience in an extraordinarily personal and vivid way what
it would be like to carry out unspeakable acts of violence."
Justices Clarence Thomas and Stephen Breyer dissented. Thomas said the First Amendment did not include
the right to speak to minors "without going through the minors' parents or guardians."
California lawmakers passed the ban in 2005 after finding that violent videogames are "a new, modern threat
to children" that cause psychological harm and make minors more likely to exhibit violent or aggressive
behavior.
Some games allow users to decapitate people, urinate on them and set them on fire. Alito's concurring
opinion also cited games that allow users to engage in ethnic cleansing or reenact the mass murders at
Columbine High School and Virginia Tech.
The case carried considerable implications for the videogame industry. Games rated as "mature," such as
Activision Blizzard Inc.'s (ATVI) "Call of Duty" and Take-Two Interactive Software Inc.'s (TTWO) "Grand Theft
Auto," are some of the industry's biggest sellers.
Two trade associations challenged the law before it went into effect. They argued that video games are a
modern form of artistic expression entitled to First Amendment protection. The industry says American
consumers spend more than $10 billion a year on videogames.
It's not clear which games would have been affected by California's law, which defines a violent video game
as one that "includes killing, maiming, dismembering or sexually assaulting an image of a human being."

To be subject to the sales ban, the game must lack "serious literary, artistic, political or scientific value for
minors," or it must allow a player to virtually inflict serious injury in a manner that is "especially heinous, cruel
or depraved in that it involves torture or serious physical abuse to the victim."
The law would have imposed a fine of up to $1,000 for each violation.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com [ 06-27-11 1225ET ]
Document DJON000020110627e76r0004f

US Supreme Court Rules California Videogame Law Unconstitutional
By Brent Kendall
340 words
27 June 2011
15:54
DJON
English
WASHINGTON -(Dow Jones)- The U.S. Supreme Court ruled Monday that a California law banning the sale
of violent videogames to minors is unconstitutional.
The court, on a 7-2 vote, said the law violated free speech protections of the First Amendment. "Even where
the protection of children is the object, the constitutional limits on governmental action apply," Justice Antonin
Scalia wrote in an 18-page opinion, which was joined by four other justices. Chief Justice John Roberts and
Justice Samuel Alito concurred in the result but expressed some disagreement with the majority's opinion.
Justices Clarence Thomas and Stephen Breyer dissented.
behavior.
Two trade associations challenged the law before it went into effect. The industry says American consumers
spend more than $10 billion a year on videogames.
Document DJON000020110627e76r0003n

WSJ UPDATE: US Supreme Court Rules California Videogame Law Unconstitutional
By Jess Bravin
Of THE WALL STREET JOURNAL
734 words
27 June 2011
17:40
DJ
English
WASHINGTON--The Supreme Court struck down a California law blocking minors from buying violent
videogames, voting 7-2 that it violates the First Amendment.
The decision scrambled the court's typical ideological lineup. Justice Antonin Scalia wrote the majority
opinion, joined by Justices Anthony Kennedy, Ruth Bader Ginsburg, Sonia Sotomayor and Elena Kagan.
Scalia wrote in his 18-page opinion.
(This story and related background material will be available on The Wall Street Journal website, WSJ.com.)
Justice Samuel Alito wrote separately in favor of the same outcome, joined by Chief Justice John Roberts,
but the two expressed some disagreement with the majority. Justices Clarence Thomas and Stephen Breyer
filed separate dissents.
The 2005 California law the court voided prohibits selling or renting such games to minors based on
legislative findings that they stimulate "feelings of aggression," reduce "activity in the frontal lobes of the
brain" and promote "violent antisocial or aggressive behavior." The law, signed by then-Gov. Arnold
Schwarzenegger, never took effect because lower courts found it violated free-expression rights.
In a 2009 ruling, a federal appeals court in San Francisco said the state provided no credible research
showing that playing violent videogames harmed minors, and found the law was an unconstitutional effort "to
control a minor's thoughts."
That decision was in line with other courts across the country, which have struck down similar state and local
laws restricting violent videogames for the same reason.
Scalia said that as far as the First Amendment is concerned, the viewing of violent videogames was
essentially the same as reading books. "Reading Dante is unquestionably more cultured and intellectually
edifying than playing Mortal Kombat. But these cultural and intellectual differences are not constitutional
ones," he wrote.
Alito, while agreeing with the outcome, questioned the breadth of the majority's opinion. "The court is far too
quick to dismiss the possibility that the experience of playing video games (and the effects on minors of
playing violent video games) may be very different from anything that we have seen before," he wrote.
The $10.5 billion videogame industry said California's restrictions could stifle its fast-evolving art form, while
the movie business and other media industries feared that their products could be next in line to face
government regulation.
Games rated as "mature," such as Activision Blizzard Inc.'s (ATVI) "Call of Duty" and Take-Two Interactive
Software Inc.'s (TTWO) "Grand Theft Auto," are some of the industry's biggest sellers.
The industry argued that its own ratings system is adequate to keep violent games from children. A 2009
Federal Trade Commission report found that videogames had a stronger regulatory code than the movie or
music industries, and that retailers regularly enforced age restrictions which limit games rated M (for mature)
to consumers age 17 and older.
California argued that the voluntary system isn't good enough, because some minors manage to purchase
M-rated games anyway, and some publishers don't submit games to the ratings board.

Game makers worried that if the California law was upheld, other states and cities would likely follow with
their own restrictions. They said big-box retailers where most games are sold might drop titles that carry
restricted labels, much as most movie theaters won't run films rated X or NC-17.
Courts have refused to treat violent content as they would sexual material, which government can restrict
under longstanding obscenity doctrines.
But in recent years the Supreme Court has been taking a more paternalistic view toward youth. In 2007, the
high court approved punishing a high school student for hoisting a banner that allegedly made light of
smoking marijuana, finding antidrug policies outweighed student free-speech rights.
Breyer attached a 15-page bibliography to his dissent with academic articles on the effects of violent
videogames. "What sense does it make to forbid selling to a 13-year-old boy a magazine with an image of a
nude woman, while protecting a sale to that 13-year-old of an interactive video game in which he actively, but
virtually, binds and gags the woman, then tortures and kills her?" he wrote.
--Brent Kendall contributed to this article. [ 06-27-11 1240ET ]
Document DJ00000020110627e76r000c8

UPDATE: US Supreme Court Rules California Videogame Law Unconstitutional
608 words
27 June 2011
17:10
DJ
English
(Adds detail on the ruling throughout.)
By Brent Kendall
WASHINGTON (Dow Jones)--The U.S. Supreme Court ruled Monday that a California law banning the sale
of violent videogames to minors is unconstitutional because it violates free speech protections of the First
Amendment.
The court ruled for the videogame industry on a 7-2 vote, though two members of the majority did not join the
main opinion in the case.
Justice Antonin Scalia wrote in an 18-page opinion, which was joined by four other justices.
Scalia rejected California's argument that lawmakers should be able to ban sales of violent video games to
those under 18 just as they can restrict the sale of sexual material to minors. He also said there was no
longstanding American tradition of restricting children's access to depictions of violence.
"Certainly the books we give children to read--or read to them when they are younger--contain no shortage of
gore," Scalia said. "Cinderella's evil stepsisters have their eyes pecked out by doves. And Hansel and Gretel
(children!) kill their captor by baking her in an oven."
Chief Justice John Roberts and Justice Samuel Alito concurred in the ruling against California but criticized
Scalia for not taking a more cautious approach that would leave room for states to enact narrower laws that
would pass constitutional muster.
Alito said the level of violence in some videogames was "astounding," and he expressed concern that more
sophisticated games will allow "troubled teens to experience in an extraordinarily personal and vivid way what
it would be like to carry out unspeakable acts of violence."
Justices Clarence Thomas and Stephen Breyer dissented. Thomas said the First Amendment did not include
the right to speak to minors "without going through the minors' parents or guardians."
behavior.
Some games allow users to decapitate people, urinate on them and set them on fire. Alito's concurring
opinion also cited games that allow users to engage in ethnic cleansing or reenact the mass murders at
Columbine High School and Virginia Tech.
Two trade associations challenged the law before it went into effect. They argued that video games are a
modern form of artistic expression entitled to First Amendment protection. The industry says American
consumers spend more than $10 billion a year on videogames.

Document DJ00000020110627e76r000bd

US Supreme Court Rules California Videogame Law Unconstitutional
By Brent Kendall
340 words
27 June 2011
15:19
DJ
English
WASHINGTON (Dow Jones)--The U.S. Supreme Court ruled Monday that a California law banning the sale
of violent videogames to minors is unconstitutional.
The court, on a 7-2 vote, said the law violated free speech protections of the First Amendment. "Even where
the protection of children is the object, the constitutional limits on governmental action apply," Justice Antonin
Scalia wrote in an 18-page opinion, which was joined by four other justices. Chief Justice John Roberts and
Justice Samuel Alito concurred in the result but expressed some disagreement with the majority's opinion.
Justices Clarence Thomas and Stephen Breyer dissented.
behavior.
Two trade associations challenged the law before it went into effect. The industry says American consumers
spend more than $10 billion a year on videogames.
Document DJ00000020110627e76r0007c

=DJ CFA Technology:Insider Review For Week Ended June 10
4,115 words
13 June 2011
12:13
DJDN
English
===========================================================================
THE WEEKLY TECHNOLOGY INSIDER REVIEW: June 6-10
---------------------------------------------------------------------------
===========================================================================




===========================================================================
($ in Thousands)
---------------------------------------------------------------------------
June 6-10 | May 30-June 3
---------------------------------------------------------------------------
===========================================================================
COMPUTER SALES
---------------------------------------------------------------------------
$ 0 (710) (710) | 0 (1,756) (1,756)
---------------------------------------------------------------------------
TOTAL $ 0 (710) (710) | 0 (1,756) (1,756)
===========================================================================
---------------------------------------------------------------------------
$ 13 0 13 | 10 0 10
$ 0 0 0 | 0 (10,427) (10,427)
$ 0 (4,835) (4,835) | 0 (16,858) (16,858)
$ 134 (6,600) (6,466) | 443 (7,414) (6,971)
$ 0 (3,399) (3,399) | 0 (14,190) (14,190)
Electric Machinery, Equipment & Supplies
$ 0 0 0 | 120 0 120
$ 31 0 31 | 0 (3,078) (3,078)
$ 12 (409) (397) | 10 (18,054) (18,044)
$ 0 (6,220) (6,220) | 0 (6,575) (6,575)
Petroleum Refining
$ 15 (3,318) (3,303) | 27 (2,712) (2,685)
$ 578 (1,812) (1,234) | 0 (5,979) (5,979)
$ 29 (34,645) (34,616) | 17 (2,323) (2,306)
$ 0 (527) (527) | 0 0 0
$ 0 (1,105) (1,105) | 0 (1,741) (1,741)
$ 718 (11,249) (10,531) | 56 (438) (382)
---------------------------------------------------------------------------
TOTAL $ 1,530 (74,119) (72,589) | 683 (89,789) (89,106)
===========================================================================
---------------------------------------------------------------------------
Electronic Capacitors
$ 3 0 3 | 0 0 0
$ 1,411 (502) 909 | 1030 (588) 442
$ 0 (546) (546) | 0 (1,180) (1,180)
$ 30 (771,094) (771,064) | 164 (42,797) (42,633)
---------------------------------------------------------------------------
TOTAL $ 1,444 (772,142) (770,698) | 1,194 (44,565) (43,371)
===========================================================================
---------------------------------------------------------------------------
$ 140 (42,660) (42,520) | 529 (61,847) (61,318)
$ 11 (7,444) (7,433) | 105 (10,947) (10,842)
$ 13 0 13 | 565 0 565
$ 208 0 208 | 235 0 235
$ 9,587 (119,034) (109,447) | 8370 (215,684) (207,314)
$ 808 (46,499) (45,691) | 0 (2,299) (2,299)
---------------------------------------------------------------------------
TOTAL $ 10,767 (215,637) (204,870) | 9,804 (290,777) (280,973)
===========================================================================
13 Jun 2011 07:14 EDT =DJ CFA Technology:Insider Review For Week Ended June 10 -3-
===========================================================================
===========================================================================
SALES: June 6-10
---------------------------------------------------------------------------
---------------------------------------------------------------------------
BOTTOMLINE TECHNOLOGIES INC (EPAY)
Savory Nigel K O 06/03/11 1,909 $ 23.91 62,278

Tessler Michael CEO 06/10/11 2,000 $ 38.50 256,992
BROCADE COMMUNICATIONS SYSTEMS INC (BRCD)

Deranleau Richard CFO 06/08/11 1,750 $ 6.77 331,563
Earhart Alan L D 06/08/11 20,000 $ 6.77 54,427
CACI INTERNATIONAL INC (CACI)

Bradford Gregory R O 05/10-12/11 27,000 $ 63.08 45,257
CENTURYLINK INC (CTL)

Mueller Edward A D 06/06/11 23,500 $ 41.09 667,942
CERNER CORP (CERN)

Zollars William D D 06/06/11 2,000 $ 16.01 21,800
CIBER INC (CBR)

Cheesbrough Peter H CFO 06/09/11 33,064 $ 5.33 103,908
CITRIX SYSTEMS INC (CTXS)

Demo Murray J D 06/03/11 10,000 $ 84.80 24,295
CONCUR TECHNOLOGIES INC (CNQR)

Hilton Michael W VP 06/07/11 2,850 $ 47.52 533,384
DATA I/O CORP (DAIO)

Bluechel Gordon Bla VP 06/06/11 1,001 $ 5.72 4,241
DIODES INC (DIOD)

Tang Francis VP 06/02/11 750 $ 28.62 24,777

Beecher Michael J CFO 06/02/11 4,000 $ 1.20 216,830
Puckett M Bernard SH 06/02/11 116,976 $ 1.22 83,010
DOT HILL SYSTEMS CORP (HILL)

Kammersgard Dana CEO 06/03/11 14,800 $ 2.95 603,081

EBIX INC (EBIX)

Kerris Robert F CFO 06/02/11 550 $ 19.04 2,558
ELECTRONICS FOR IMAGING INC (EFII)

Rosenzweig Fred S P 06/03-08/11 76,552 $ 16.75 51,133
EPIQ SYSTEMS INC (EPIQ)

Braham Elizabeth M CFO 06/03/11 100,000 $ 15.16 971,581
EQUINIX INC (EQIX)

Taylor Keith D CFO 06/08/11 1,000 $ 97.49 56,378
EVOLVING SYSTEMS INC (EVOL)

Ervine Brian R CFO 06/02-08/11 15,867 $ 7.01 30,702
FARO TECHNOLOGIES INC (FARO)

Raab Simon CB 06/03-09/11 90,000 $ 41.32 400,000
FLEXTRONICS INTERNATIONAL LTD (FLEX)

Burke Sean P O 06/03/11 50,000 $ 6.95 0
FORTINET INC (FTNT)
Xie Ken CEO 06/07/11 120,000 $ 23.91 7,286,186
Xie Michael OD 06/06-07/11 40,000 $ 23.87 3,460,000

De Masi Niccolo CEO 06/09/11 100,000 $ 4.28 0
Drapkin Matthew A D 06/02-07/11 912,300 $ 5.11 1,095,500

Brin Sergey OD 06/07/11 83,334 $ 21.59 0
Pichette Patrick CFO 06/06-08/11 2,791 $ 20.68 0
GT SOLAR INTERNATIONAL INC (SOLR)

Ford Jeffrey John VP 06/06-07/11 185,084 $ 13.41 31,960
Gutierrez Thomas CEO 06/03/11 11,489 $ 13.02 42,187
Kim Ho-Il VP 06/03/11 4,999 $ 13.22 39,511
HESS CORP (HES)

Ornstein Lawrence H VP 06/06/11 18,000 $ 75.41 79,638
IDT CORP -CL B (IDT)

Courter James A OD 06/06-07/11 10,000 $ 28.22 529,352

Hoffman Paul J VP 06/08/11 200,000 $ 54.75 49,729
Robel Charles J D 06/06/11 25,000 $ 56.26 13,500
INTEGRATED FREIGHT CORP (IFCR)

Tangiers Capital Ll SH 09/14-22/10 5,907 $ 0.91 4,601,692
Tangiers Capital Ll SH 12/07/10 1,917 $ 0.89 4,601,692
Tangiers Capital Ll SH 01/06-21/11 817 $ 0.84 4,601,692
INTERACTIVE INTELLIGENCE INC (ININ)

Hamburg Edward D 06/08/11 3,400 $ 32.62 7,600
INTERMEC INC (IN)

INTERSIL CORP -CL A (ISIL)

Kennedy Jonathan CFO 06/06/11 12,573 $ 13.44 2,960
Lang Gregory S D 06/09/11 1,334 $ 13.55 9,266
INTEVAC INC (IVAC)

Fairbaim Kevin P CEO 06/06/11 8,650 $ 10.54 41,387
IPG PHOTONICS CORP (IPGP)

Gauthier Henry E D 06/06/11 10,001 $ 72.60 26,500
Lopresti Angelo P VP 06/09/11 10,000 $ 68.35 45,349
J2 GLOBAL COMMUNICATIONS (JCOM)

Cresci Robert J D 06/03/11 7,000 $ 28.41 26,679
Turicchi R Scott P 06/06-07/11 11,539 $ 28.39 271,364

Mondello Mark T COO 06/06/11 10,000 $ 19.86 1,065,050
LANDAUER INC (LDR)

Yoder R Craig VP 06/07/11 750 $ 56.72 28,675
LINEAR TECHNOLOGY CORP (LLTC)

Dobkin Robert C VP 06/03/11 10,000 $ 32.68 714,584

LIVEPERSON INC (LPSN)
Lavan Kevin D 06/03/11 15,000 $ 11.60 6,000
LOGMEIN INC (LOGM)

Simon Michael K CB 06/08/11 20,000 $ 37.93 764,550
LTX-CREDENCE CORP (LTXC)

Gallenberger Mark J CFO 06/02-03/11 20,200 $ 9.08 313,063
Rood Peter S VP 06/02/11 4,614 $ 9.09 178,750
===========================================================================

===========================================================================
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SALES: June 6-10
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LTX-CREDENCE CORP (LTXC)

Tacelli David G CEO 06/02-03/11 20,200 $ 9.08 708,558

Cassidy Brian J D 06/08/11 5,000 $ 34.06 36,010
MAXLINEAR INC -CL A (MXL)

Kastner Michael VP 06/03/11 802 $ 9.12 0
MEDIDATA SOLUTIONS INC (MDSO)

Sherif Tarek CB 06/02-07/11 10,000 $ 22.77 1,060,404

Gray Michael CFO 06/06/11 8,000 $ 29.87 439
MONOLITHIC POWER SYSTEMS INC (MPWR)

Sciammas Maurice VP 06/06/11 1,585 $ 16.17 245,084

Givens Robert M CB 06/06/11 10,000 $ 13.38 482,142
Mccarthy David L VP 06/06/11 6,000 $ 13.37 144,024

Coates Norman V D 06/07/11 27,886 $ 16.19 1,409,445
NETAPP INC (NTAP)

Salmon Robert E VP 06/06-07/11 27,315 $ 50.91 63,067

NETGEAR INC (NTGR)
Carter-Miller Jocel D 06/06/11 5,400 $ 41.78 14,667
Graham Jef D 06/06/11 2,000 $ 41.78 23,400
Werdann Michael A VP 06/06/11 3,436 $ 41.78 4,800
NETSUITE INC (N)

Goldberg Evan CB 06/06/11 12,130 $ 36.29 2,883,974
Nelson Zachary A CEO 06/06/11 4,688 $ 36.21 1,109,655
NVIDIA CORP (NVDA)

Huang Jen-Hsun CEO 06/08-10/11 190,909 $ 17.36 1,117,380
OMNIVISION TECHNOLOGIES INC (OVTI)

Chou Yunhwa Vicky VP 06/07/11 50,000 $ 34.25 19,920
ON SEMICONDUCTOR CORP (ONNN)

Mahoney Robert Char VP 06/07/11 20,000 $ 10.53 101,086
OPNEXT INC (OPXT)

Nobile Robert J CFO 06/07/11 10,056 $ 2.47 13,310

Aliabadi Manoocher O 09/22/10 4,224 $ 34.32 N/A
Chopra Deepak CB 06/06-07/11 56,892 $ 39.59 N/A
Edrick Alan I CFO 06/01-03/11 25,306 $ 39.68 N/A
Good Steven C D 06/08/11 3,400 $ 39.51 N/A
Mehra Ajay OD 06/08/11 30,620 $ 39.27 152,172
PAETEC HOLDING CORP (PAET)

Chesonis Arunas A CB 06/02-03/11 900,000 $ 4.50 6,213,156
Deriggi Mario VP 06/03/11 34,400 $ 4.75 272,078

Scherer Barbara Vau CFO 06/02/11 15,000 $ 35.69 54,221
POWER INTEGRATIONS INC (POWI)

Balakrishnan Balu CEO 06/06/11 3,000 $ 36.88 293,181

Margalit Erel N D 06/07/11 2,000,000 $ 31.00 2,030,597
QUALITY SYSTEMS INC (QSII)

Holt Paul A CFO 06/02/11 2,000 $ 84.31 4,000
QUANTUM CORP (QTM)

Belluzzo Richard E CB 06/03/11 451,752 $ 3.41 953,333
RADIANT SYSTEMS INC (RADS)

Heyman John H CEO 06/06/11 12,500 $ 20.25 380,334
RADISYS CORP (RSYS)

Lepiane Christian A VP 06/06/11 2,000 $ 8.13 30,431
RAYTHEON CO (RTN)
Goglia Richard A T 06/06/11 5,465 $ 48.52 32,213
Lawrence Taylor W VP 06/06/11 4,893 $ 48.52 60,298

Tomlinson Lawrence D 06/08/11 500 $ 41.80 2,500
SANDISK CORP (SNDK)

Mehrotra Sanjay CEO 06/09/11 10,000 $ 42.62 35,392

Baur Michael L CEO 06/03-07/11 20,000 $ 32.84 126,150
SEMTECH CORP (SMTC)
Beltran Clemente VP 06/07/11 11,000 $ 27.02 19,543
Lindstrom James T D 06/08/11 5,000 $ 26.74 20,000
Maheswaran Mohan CEO 06/06-08/11 26,500 $ 26.68 56,811
Vargas Jose Jr VP 06/06/11 15,000 $ 27.00 74
SHORETEL INC (SHOR)

Basart Edwin J OD 06/06/11 10,000 $ 9.97 538,630
SOLERA HOLDINGS INC (SLH)

Aquila Tony CB 06/06/11 27,598 $ 57.24 413,378
SONIC FOUNDRY INC (SOFO)

Buinevicius Rimas CB 06/03-09/11 3,500 $ 13.82 150,245

Frome James J VP 06/07/11 7,500 $ 18.00 0
Spencer George H II D 06/09/11 1,204,327 $ 16.00 0
SUCCESSFACTORS INC (SFSF)

Au Luen O 06/07/11 3,000 $ 33.19 107,334
Larson James VP 06/08/11 30,402 $ 32.61 15,117
Smith Hillary B O 06/06-08/11 6,500 $ 32.93 0

Thierer Mark CB 06/06/11 24,952 $ 56.94 57,927
SYMANTEC CORP (SYMC)

Thompson John Wende CB 06/06/11 70,000 $ 18.53 993,469

Mccormick James M D 06/07/11 12,000 $ 28.03 5,130,348
SYNNEX CORP (SNX)

Miau Matthew D 06/09/11 8,000 $ 30.65 208,456
TAKE-TWO INTERACTIVE SOFTWARE INC (TTWO)

Moses Jon J D 06/03/11 9,916 $ 16.00 55,671
TELECOMMUNICATION SYSTEMS INC -CL A (TSYS)

Young Richard A COO 06/07/11 27,765 $ 4.73 178,502

Miller Paul David D 06/07/11 4,688 $ 45.97 3,776
TELENAV INC (TNAV)

Chao Y C VP 06/07/11 18,000 $ 16.47 943,726
===========================================================================

===========================================================================

===========================================================================
===========================================================================
SALES: June 6-10
---------------------------------------------------------------------------
---------------------------------------------------------------------------
TELENAV INC (TNAV)

Dhanani Salman VP 06/07/11 10,000 $ 16.23 178,948
Jin H P CB 06/07/11 9,999 $ 16.34 705,079
Miller Douglas S CFO 06/07/11 9,000 $ 16.44 0
Rennard Robert W O 06/07-08/11 20,000 $ 16.17 906,927
THERMO FISHER SCIENTIFIC INC (TMO)

Malus Alan J VP 06/03/11 25,000 $ 63.25 117,394
Pesicka Edward A VP 06/06/11 5,000 $ 62.65 68,448
TIGERLOGIC CORP (TIGR)

Barrett Philip Dean D 06/10/11 3,000 $ 4.23 235,141
TRANSACT TECHNOLOGIES INC (TACT)

Demartino Steven A P 06/02-06/11 18,426 $ 11.75 27,993
Hoffman Andrew John VP 06/06/11 5,164 $ 11.77 12,500
TRAVELZOO INC (TZOO)

Azzurro Capital Inc SH 06/02/11 499,116 $ 71.04 8,700,000
Bartel Ralph D 06/03/11 68,839 $ 66.60 8,631,161
TW TELECOM INC -CL A (TWTC)

Blount John COO 06/08/11 100,000 $ 19.90 18,950
Jones Paul B VP 06/08/11 100,000 $ 19.90 37,500
TYLER TECHNOLOGIES INC (TYL)

Marr John S Jr CEO 06/02-06/11 65,000 $ 25.05 1,049,369
ULTRA CLEAN HOLDINGS INC (UCTT)

Mezhvinsky Leonid D 05/13-31/11 4,900 $ 10.40 202,902
UNI-PIXEL INC (UNXL)

Bank Of America Cor SH 04/28/11 534 $ 7.72 644,739
VARIAN SEMICONDUCTOR EQUIPMENT ASSOC INC (VSEA)

Baker Thomas C VP 06/07/11 72,568 $ 61.45 26,277
Dickerson Gary E CEO 06/07/11 223,260 $ 61.45 146,250
Halliday Robert J CFO 06/08/11 49,000 $ 61.42 67,313
Perlmutter Robert J VP 06/08/11 101,984 $ 61.42 40,522
Rosen Gary J VP 06/09/11 115,826 $ 61.32 40,195
VIRGIN MEDIA INC (VMED)

Rigsby John N D 06/09/11 10,773 $ 31.99 10,000

Sutter Betsy VP 06/07-09/11 25,001 $ 94.21 88,035
VOCUS INC (VOCS)

Rudman Richard E CB 06/06-08/11 50,000 $ 26.61 530,395


Foster Paul L CB 06/07-08/11 127,500 $ 15.38 7,147,940
===========================================================================
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===========================================================================
===========================================================================
PURCHASES: June 6-10
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ADPT CORP (ADPT)

Lichtenstein Warren CB 06/03-06/11 474,100 $ 2.95 7,707,072
ASURE SOFTWARE INC (ASUR)

Goepel Patrick CEO 06/07-08/11 5,295 $ 2.83 99,452
ATS CORP (ATSC)

CA INC (CA)
Kapoor Rohit D 06/03/11 20,000 $ 22.70 20,000
CASCADE MICROTECH INC (CSCD)

Link Raymond A D 06/03/11 2,300 $ 5.40 20,801
DATAWATCH CORP (DWCH)

Mahoney David C D 06/06/11 3,250 $ 5.54 158,330

Lund Thomas C SH 06/03/11 24,000 $ 1.25 442,633
EBIX INC (EBIX)

Keller Hans Ueli D 06/06/11 500 $ 17.99 72,478
EQUINIX INC (EQIX)

Luby William K D 06/02-03/11 5,000 $ 99.55 41,552
ERF WIRELESS INC (ERFW)

Batson Bartus H D 06/06/11 400,000 $ 0.01 542,997
Cubley H Dean CB 06/06/11 1,000,000 $ 0.01 2,310,300
ETERNAL ENERGY CORP (EERG)

Rudisill Mcandrew SH 06/06-08/11 42,500 $ 0.35 5,587,500
FEDERAL SIGNAL CORP (FSS)

Wright Joseph R Jr D 06/08/11 5,000 $ 5.81 53,934
GLOBAL TELECOM & TECHNOLOGY INC (GTLT)

Thompson H Brian CB 06/07-08/11 65,000 $ 1.15 5,484,829
GLOBALSCAPE INC (GSB)
Hawkins Thomas Rand CFO 06/09/11 25,000 $ 2.03 25,000
INNOVATIVE SOLUTIONS & SUPPORT INC (ISSC)

Albrecht Ronald CFO 06/07-08/11 2,060 $ 5.20 5,060
INTEGRATED FREIGHT CORP (IFCR)

Tangiers Capital Ll SH 12/08-22/10 650 $ 0.90 4,601,692
Tangiers Capital Ll SH 03/02/11 5,000 $ 0.35 4,601,692
INTREORG SYSTEMS INC (IORG)

Wafford Thimothy S D 06/07-08/11 17,661 $ 1.04 503,550
MAM SOFTWARE GROUP INC (MAMS)

Wynnefield Partners SH 06/06/11 121,836 $ 1.71 3,493,213

Clark Roger E D 06/06/11 8,500 $ 10.09 11,613
MEMC ELECTRONIC MATERIALS INC (WFR)

Turner Marshall C D 06/02-03/11 3,000 $ 9.88 4,000

Tokman Alexander Y CEO 06/08/11 10,000 $ 1.13 672,856
NEONODE INC (NEON)

Brunton David W CFO 06/07/11 10,000 $ 3.00 345,976
ONCOLOGIX TECH INC (OCLGD)

Griffith Barry K D 06/03/11 100,000 $ 0.12 200,000

Gervais William J CEO 06/07-09/11 14,816 $ 1.83 3,208,264

Still George J Jr D 06/09/11 20,000 $ 40.39 260,540
RADISYS CORP (RSYS)

Ambrose Anthony VP 06/06-07/11 4,400 $ 8.08 38,691
RIMAGE CORP (RIMG)

Black Sherman L CEO 06/06/11 1,000 $ 13.81 13,000
SILICON GRAPHICS INTERNATIONAL CORP (SGI)

Griffiths Gary A D 06/08/11 2,000 $ 15.75 42,718
SPINE PAIN MANAGEMENT INC (SPIN)

Donovan William F CEO 06/10/11 5,000 $ 0.80 3,006,941

Mehrabian Robert CB 06/08/11 10,000 $ 44.45 166,331
Pichelli Aldo O 06/09/11 3,000 $ 44.51 49,844
UNI-PIXEL INC (UNXL)

Young Ross Adam D 06/09/11 1,500 $ 6.68 1,500
VERSANT CORP (VSNT)

Woebker Bernhard CEO 06/02-08/11 8,000 $ 12.62 12,000

Emc Corp SH 06/06-08/11 95,860 $ 93.48 3,697,276
WINDSTREAM CORP (WIN)

Foster Dennis E CB 06/07/11 10,000 $ 13.00 169,179
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SALES: June 6-10
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3D SYSTEMS CORP (DDD)

Loewenbaum G Walter CB 06/08-09/11 30,000 $ 17.73 2,924,494
Mcalea Kevin VP 06/07/11 50,000 $ 18.14 81,456
ABAXIS INC (ABAX)

Hanlon Brenton VP 06/06/11 4,000 $ 28.27 6,033

Medeiros Erin VP 06/08/11 7,000 $ 68.54 5,000

Rose George L VP 06/08/11 633,334 $ 11.45 19,889
ADVANCED ENERGY INDUSTRIES INC (AEIS)

Schatz Douglas S CB 06/06/11 35,092 $ 14.31 3,551,196

Orr Dominic P CB 06/06/11 12,700 $ 27.75 1,803,176
AVAGO TECHNOLOGIES LTD (AVGO)

Geyser Investment P SH 06/03/11 1,783,414 $ 33.61 2,943,540
Ingram Bryan VP 06/07/11 40,000 $ 34.00 0
Kkr Fund Holdings L SH 03/04/11 372,478 $ 33.61 8,029,826
Kkr Millennium Ltd SH 06/03/11 10,923,796 $ 33.61 8,029,826
Silver Lake (Offsho SH 06/03/11 9,327,599 $ 33.61 7,729,049

Beauchamp Robert E CB 06/08-09/11 44,078 $ 52.57 740,920
Castro Hollie Sammo VP 06/09/11 5,375 $ 52.55 68,471
Miller William D VP 06/08/11 5,719 $ 52.49 124,796
BOTTOMLINE TECHNOLOGIES INC (EPAY)

Donovan Kevin M CFO 06/03/11 600 $ 23.91 103,537
Eberle Robert A CEO 06/07/11 6,754 $ 23.46 267,949
===========================================================================

===========================================================================
June 13, 2011 07:14 ET (11:14 GMT)
Document DJDN000020110613e76d001w2

664 words
13 June 2011
13:44
DJDN
English
____________________________________________________________________________

Friday and early Monday.

____________________________________________________________________________

Medeiros Erin (VP) 6/8/11 7,000 $68.54 5,000

Rose George L (VP) 6/8/11 633,334 $11.45 19,889
ANTHERA PHARMACEUTICALS INC (ANTH)

Orbimed Advisors LLC (SH) 6/8/11-6/10/11 100,000 $8.10 3,000,000

Beauchamp Robert E (CB) 6/9/11 25,649 $52.60 740,920
Castro Hollie Sammon (VP) 6/9/11 5,375 $52.55 68,471
COOPER COMPANIES INC (COO)

Pichotta Nicholas J (O) 6/9/11 14,702 $74.25 18,966
Weber John Arthur (O) 6/9/11 25,805 $74.07 37,800
DICE HOLDINGS INC (DHX)

Silver Thomas (VP) 6/8/11 40,000 $13.44 55,991
DOLLAR FINANCIAL CORP (DLLR)

Weiss Jeffrey (CB) 6/10/11 20,927 $21.20 395,191
ELECTRONICS FOR IMAGING INC (EFII)

Rosenzweig Fred S (P) 6/8/11 21,805 $16.36 51,133
FEI CO (FEIC)
Thies Bradley J (VP) 6/8/11 33,500 $38.15 54,086

De Masi Niccolo (CEO) 6/9/11 100,000 $4.28 0
HIGHER ONE HOLDINGS INC (ONE)

Lasater Miles (COO) 6/8/11 30,000 $15.80 1,991,926
INCYTE CORP (INCY)

Hastings David C (CFO) 6/9/11 100,000 $17.74 8,500
K12 INC (LRN)

Packard Ronald J (CEO) 6/8/11-6/9/11 18,000 $32.57 239,700
LEAR CORP (LEA)

Rossiter Robert E (CEO) 6/10/11 9,093 $48.10 0
MAKO SURGICAL CORP (MAKO)

Savarese John (D) 6/9/11 106,252 $29.83 1,712,324
MEDNAX INC (MD)

Hawkins Thomas W (VP) 6/8/11 21,286 $69.69 61,869
Miller Frederick V (DO) 6/10/11 10,168 $69.41 20,781
*Miller Frederick V (DO) 6/1/11 5,833 $73.61 30,949

Coates Norman V (D) 6/7/11 27,886 $16.19 1,409,445
NATURES SUNSHINE PRODUCTS INC (NATR)

Delta Partners LLC (SH) 6/8/11 145,125 $15.03 1,640,348
NVIDIA CORP (NVDA)

Huang Jen-Hsun (CEO) 6/8/11-6/10/11 190,909 $17.36 21,117,380

Mehra Ajay (OD) 6/8/11 30,620 $39.27 152,172
ROVI CORP (ROVI)

Yu Stephen (VP) 6/8/11 15,000 $53.35 40,853
SOURCEFIRE INC (FIRE)

Burris John C (CEO) 6/8/11-6/9/11 10,000 $25.18 91,950

Adams Street Partner (SH) 6/9/11 1,204,327 $16.00 0
Spencer George H III (D) 6/9/11 1,204,327 $16.00 0
TW TELECOM INC (TWTC) CL A

Blount John (COO) 6/8/11 100,000 $19.90 18,950
Jones Paul B (VP) 6/8/11 100,000 $19.90 37,500
VOLCANO CORP (VOLC)

Quinoy Jorge J (VP) 6/10/11 20,000 $29.09 7,948
WASHINGTON POST CO (WPO) CL B

Graham Donald Edward (CB) 6/8/11-6/9/11 4,224 $423.14 65,087
WIKILOAN INC (WKLID)

Spider Investments L (SH) 5/25/11 4,645,000 $0.29 8,380,000
* = Amended Filing
____________________________________________________________________________
____________________________________________________________________________

June 13, 2011 08:44 ET (12:44 GMT)
Document DJDN000020110613e76d002id

News & Commentary
Activision says EA ‘conspired’ to steal developers; Videogame publisher seeks $400 million in
damages from arch-rival
Dan Gallagher, MarketWatch
MarketWatch; dgallagher@marketwatch.com; Dan Gallagher is MarketWatch's technology editor, based in
San Francisco.
527 words
22 December 2010
18:14
MarketWatch
MRKWC
English
SAN FRANCISCO (MarketWatch) — Activision Blizzard Inc. is seeking to add Electronic Arts to its lawsuit
against the developers of the blockbuster videogame “Call of Duty: Modern Warfare 2” — whom Activision
claims were induced to break their employment contract by its arch-rival.
Activision sought the changes in a filing with the California Superior Court on Tuesday afternoon. It wants
$400 million in damages from EA that it claims were caused by the publisher’s luring away of the key
developers at the Infinity Ward studio.
For its part, EA on Wednesday dismissed the move as a “PR play filled with pettiness and deliberate
misdirection.” The rivalry between the two publishers has increased dramatically over the past couple of
years, as Activision has grown to challenge EA’s historical position as the largest videogame publisher in
terms of revenue.
“Activision wants to hide the fact that they have no credible response to the claim of two artists who were fired
and now just want to get paid for their work,” said EA spokesman Jeff Brown.
Shares of Activision were up nearly 3% to $12.56 by midday Wednesday. EA shares were up about 0.8%.
The dispute first erupted back in March, when Activision fired Jason West and Adam Zampella, the
co-founders of Infinity Ward who continued to run the studio after Activision bought the business in 2003.
Activision accused the pair of breach of contract in negotiating a deal with EA; the developers claim they were
fired illegally and accused Activision of withholding millions of dollars in bonus compensation for “Modern
Warfare 2” — which was the best-selling videogame title of 2009. Read previous story on Infinity Ward
dispute.
In its recent filing, Activision accuses top EA executives by name — specifically Chief Executive John
Riccitello and Chief Operating Officer John Schappert — of “unlawful conduct” in trying to lure away the
developers. The company claims EA was desperate for the developers because of the decline in the
publisher’s own business — particularly its “Medal of Honor” combat shooter franchise that has been outsold
by “Call of Duty.”
“As Activision succeeded, Electronic Arts failed. EA’s biggest titles routinely underperformed financially and it
lost billions of dollars through failed investments,” the complaint read.
Activision wants at least $400 million from EA in damages. Despite the blockbuster sales of “Modern Warfare
2,” the company claims its profitability was hurt by EA’s actions. Several employees left Infinity Ward to follow
the co-founders to their new studio, forcing Activision to replace development talent.
The heated dispute also comes as Activision’s latest “Call of Duty” title — “Black Ops” — racks up strong
sales. The company said on Tuesday that global sales of the title have surpassed the $1 billion mark since its
release in early November.
Videogame publisher says arch-rival “conspired” to lure away Infinity Ward developers to make up for
declining market share. EA calls move a “PR play.”
Document MRKWC00020101222e6cm002mh

Technology
Activision Seeks to Add EA to Suit
By Nick Wingfield
379 words
22 December 2010
08:28
The Wall Street Journal Online
WSJO
English
Activision Blizzard Inc. is seeking to add rival Electronic Arts Inc. as a defendant in a lawsuit against two star
videogame makers who created Activision's hit Call of Duty franchise.
In documents filed in California superior court in Los Angeles on Tuesday, Activision of Santa Monica, Calif.,
asked a judge for permission to add EA to a lawsuit Activision filed earlier this year against Jason West and
Vince Zampella, the cofounders of Activision's Infinity Ward, one of two studios that produce Call of Duty, a
top-selling combat game series. The filing seeks $400 million in damages from EA for allegedly interfering
with the employment contracts Messrs. West and Zampella had with Activision, in an effort to sabotage the
success of Call of Duty.
In April, Messrs. West and Zampella announced they had formed a new development studio called Respawn
Entertainment and that EA will publish its games.
Jeff Brown, a spokesman for EA, called the Activision suit a "PR play filled with pettiness and deliberate
misdirection," adding that "Activision wants to hide the fact that they have no credible response to the claim of
two artists who were fired and now just want to get paid for their work."
Robert Schwartz, an attorney for Messrs. West and Zampella, called Activision's filing a "pathetic mash-up of
false and reckless assertions, designed only to delay the march to justice for Jason West and Vince
Zampella."
Messrs. West and Zampella originally sued Activision in March, alleging that the games publisher cheated
them out of royalties from Call of Duty and wrongfully terminated them. Activision later filed a cross complaint
against the two men.
The new complaint highlights the growing bitterness between EA and Activision. Activision alleges EA was
motivated to undermine Activision because its products haven't performed well in the market. "To find
Electronic Arts's desperate motive to conspire to break these legal contracts ahead of their expiration dates,
all one has to do is to look at the company's precipitous decline in stature with investors and, most
importantly, in the eyes of game players who demand innovation and excitement," the complaint says.
Write to Nick Wingfield at nick.wingfield@wsj.com
Document WSJO000020101222e6cm002jp

2nd UPDATE: Deutsche Tel, Vivendi Settle Dispute Over PTC
740 words
15 December 2010
12:44
DJON
English
(Adds background, detail.)
By Archibald Preuschat
Deutsche Telekom AG (DTE.XE) and Vivendi SA (VIV.FR) Wednesday settled a years-long legal battle over
Polish mobile phone operator Polska Telefonia Cyfrowa, or PTC, giving the German company sole ownership
and freeing up more cash for Vivendi to spend on buying out minority stakes in its domestic subsidiaries.
Under the settlement, Deutsche Telekom will pay another EUR1.4 billion in total to Vivendi and Polish
conglomerate Elektrim SA, which as a result of the payment will exit bankruptcy proceedings, giving
Deutsche Tekekom 100% ownership.
"The absolute legal certainty that is now recognized by all parties is a clear message regarding PTC's
strategic development and paves the way for the future," Deutsche Telekom's Chief Financial Officer
Timotheus Hoettges said in a statement.
The legal dispute in Poland centered on a 48% stake in PTC that Germany's Deutsche Telekom bought from
a joint venture between Vivendi and its Polish partner. Vivendi had appealed a 2004 court ruling that granted
Deutsche Telekom the right to buy the stake, arguing that the call option wasn't valid.
Vivendi said it will receive approximately EUR1.25 billion as part of the settlement, subject to legal steps in
Poland, with the deal set to be finalized in the first quarter of 2011. The agreement also allows Elektrim and
its main shareholder Zygmunt Solorz-Zak to exit from insolvency. Deutsche Telekom already paid EUR700
million to Elektrim in 2006.
Expectations of a settlement had seen industry experts speculate that Deutsche Telekom could rebrand Era
as T-Mobile, the brand under which it operates its mobile business outside of Germany, but a Deutsche
Telekom spokesman said Wednesday that Era has a strong brand that is widely recognized by Polish
consumers.
Deutsche Telekom has a large footprint in the countries of Central and Eastern Europe, including Poland,
Croatia, the Czech Republic and Hungary. It is also one of the bidders for a 51% state stake in fixed-line
provider Telekom Srbija.
For Vivendi, the settlement brings more cash into the group after it received $2 billion in September for selling
part of its 20% stake in NBC Universal. It will receive the remaining $3.8 billion as part of a three-way deal
with current NBCU owner General Electric Co. (GE) and Comcast Corp (CMCSA), which is expected to close
by the end of the year.
Meanwhile, Vivendi is looking to buy out the remaining 44% in French mobile operator SFR that it doesn't
already own from Vodafone Group PLC (VOD), likely to be in the first half of next year, in a deal that analysts
say could value the stake at EUR8 billion and would tighten the French group's focus on its existing
businesses.
The agreement "neatly ties up a loose end from the previous era," Kepler Capital Markets analysts Conor
O'Shea said, referring to the debt and legal issues the company faced following the tenure of previous Chief
Executive Jen-Marie Messier. "It also means that, together with the $3.8 billion outstanding from NBCU, the
extent to which Vivendi will have to draw on its EUR6 billion lines of credit to finance a purchase of
Vodafone's stake in SFR is reduced," he said in a note to investors.

Vivendi, headed by CEO Jean-Bernard Levy, owns Universal Music Group, the world's biggest music
publisher by sales and French pay-TV firm Canal Plus, and has majority stakes in Maroc Telecom (IAM.CL)
and video games giant Activision Blizzard Inc. (ATVI). It bought Brazilian fixed-line operator GVT at the end of
last year.
PTC, which operates under the Era brand in Poland, is one of three major mobile network operators that also
include PTK Centertel and Polkomtel SA, all of which have a roughly 30% market share.
The terms of the settlement were in line with expectations, said one analyst who declined to be named.
At 1203 GMT, Deutsche Telekom shares traded down 1.1% at EUR9.77 with Frankfurt's DAX down 0.8%,
while Vivendi gained 0.8% to EUR20.66 outperforming a broadly lower Paris market.
-By Archibald Preuschat, Dow Jones Newswires; +49 211 13872 18; archibald.preuschat@dowjones.com
(Martin Sobzyk in Warsaw, Ruth Bender in Paris and Thomas Leppert in Frankfurt contributed to this article.)
[ 12-15-10 0744ET ]
Document DJON000020101215e6cf0003i

Law Firm: Suit Filed Vs Activision Blizzard On Behalf Of Axl Rose/Guns N' Roses
15 words
23 November 2010
21:24
DJ
English
Document DJ00000020101123e6bn000ra

Media & Marketing
Justices Split on Violent Games
By Jess Bravin
748 words
3 November 2010
WSJO
English
WASHINGTON—The Supreme Court seemed split Tuesday over First Amendment protection for
videogames, scrambling the justices' typical ideological lineup in a conflict between a new medium's free
expression rights and government efforts to shield youth from bad influences.
A 2005 California law bans those under 18 from buying or renting violent videogames that appeal to "a
deviant or morbid interest in minors." Lower courts struck down the law, under precedent authorizing
government to restrict youth from only one type of material, obscene sexual content.
In seeking the law's reinstatement, Zackery Morazzini, a deputy state attorney general, told the court:
"California is no less concerned with a minor's access to the deviant level of violence that is presented in a
certain category of video games" than it is with sexually explicit material.
The issue provoked sharp disagreement between Justices Antonin Scalia and Samuel Alito.
Justice Scalia bristled at withdrawing First Amendment protection from new subjects. "What's next after
violence? Drinking? Smoking?" he asked. The First Amendment was never thought to protect obscenity, he
said, but did the framers also envision an exception for "portrayals of violence"?
Justice Alito countered, noting 21st-century videogames "cannot possibly have been envisioned at the time
when the First Amendment was ratified," so it would be "entirely artificial" to assume games had the same
constitutional protection as books.
The case has considerable implications for the videogame industry. Games rated "mature," such as Activision
Blizzard Inc.'s "Call of Duty" and Take-Two Interactive Software Inc.'s "Grand Theft Auto," are some of the
industry's biggest sellers. Movie and music industries also worry that a state victory could lead to additional
restrictions on youth access to their products.
Americans spend about $10 billion a year on videogames.
Justice Stephen Breyer wondered why sexual content should be considered categorically more harmful to
minors than violent material. A 13-year-old "can't buy a picture of a naked woman" but no law can stop him
from getting a game depicting "gratuitous torture of children," he observed. "Now what sense is there to that?"
Videogame industry attorney Paul Smith said that children's stories have traditionally involved "graphic
violence," but not explicit sex, a point that seemed to incense Chief Justice John Roberts.
"We do not have a tradition in this country of telling children they should watch people actively hitting
schoolgirls over the head with a shovel so they'll beg with mercy, being merciless and decapitating them,
shooting people in the leg so they fall down," the chief justice said, reading a description of "Postal 2," the
game often cited as the genre's most violent exemplar. "We protect children from that. We don't actively
expose them to that."
Justice Ruth Bader Ginsburg asked why the state limited the restriction to videogames. "Why are video
games special? Or does your principle extend to all deviant, violent material in whatever form?" she asked.
California's Mr. Morazzini argued violent videogames are worse because they are interactive. Lawmakers
relied on studies suggesting that videogames are "exemplary teachers of aggression" because the player
personally commits virtual acts of "obscene violence."
One study "says that the effect of violence is the same for a Bugs Bunny episode as it is for a violent video,"
said Justice Sonia Sotomayor, who asked if the state would outlaw Bugs Bunny.

"Cartoons do not depart from the established norms" of how much violence children "have been historically
exposed to," Mr. Morazzini replied.
Mr. Smith contended, however, that California's law was the latest in a series of adult overreactions to new
media including comic books and rock music that they feared would poison youth.
The youngest justice, Elena Kagan, suggested she might be more inclined to consider videogames a
legitimate art form.
At one point, Mr. Morazzini mentioned that the game "Mortal Kombat," whose first edition appeared in the
early 1990s, might be a candidate for restriction under the law.
"Mortal Kombat," Justice Kagan responded, "is an iconic game which I am sure half of the clerks who work for
us spent considerable amounts of time in their adolescence playing."
A decision is expected before July.
The movie, music and publishing industries as well as Xbox videogame console maker Microsoft Corp. were
among those who filed briefs urging the court to strike down the California law.
Write to Jess Bravin at jess.bravin@wsj.com
Document WSJO000020101102e6b300bkp

UPDATE: US Supreme Court Voices Doubts About California Videogame Law
756 words
2 November 2010
17:06
DJON
English
(Updates with additional detail from the oral argument.)
By Brent Kendall
WASHINGTON -(Dow Jones)- The U.S. Supreme Court expressed doubts Tuesday about the
constitutionality of a California law that seeks to ban the sale of violent videogames to minors.
During an hour-long oral argument, several justices suggested the law violated free speech protections of the
First Amendment.
Justice Antonin Scalia said California's logic in banning videogame sales to minors could also apply to a ban
on the sale of violent movies or books to children.
"Some of the Grimm's Fairy Tales are quite grim," Scalia told an attorney for California. "Are they OK? Are
you going to ban them, too?"
"What about films? What about comic books?" asked Justice Ruth Bader Ginsburg. "Why are videogames
special?"
The court also questioned how the state could determine when violence in videogames is excessive.
The case has considerable implications for the videogame industry. Games rated as "mature," such as
The industry says American consumers spend more than $10 billion a year on videogames.
The case could also have implications for the broader entertainment industry, specifically for producers of
violent movies and television shows.
Despite the court's questions about the California law, many justices also expressed concern about the
violent material in some videogames.
Chief Justice John Roberts noted that some games allowed users to decapitate people, urinate on them and
set them on fire.
"We protect children from that," Roberts said.
He and others suggested there may be a way for California or other states to write a narrower law that
imposed some restrictions on the sale of violent videogames.
For example, Roberts suggested states might be able to require violent games to be located in separate area
of a retail store or placed on high shelves out of the reach of minors.
behavior.
It's not clear which games would be affected by California's law, which defines a violent video game as one
that "includes killing, maiming, dismembering or sexually assaulting an image of a human being."

The law would impose a fine of up to $1,000 for each violation.
Two trade associations challenged the law before it went into effect and two lower courts ruled the law was
unconstitutional.
Zackery Morazzini, an attorney for the state of California, argued that states should be able to ban sales of
violent video games to those under 18 just as they can restrict the sale of sexual material to minors.
Morazzini said video games are different than movies or books because they are interactive, with users
choosing to commit violent acts on characters in the games.
Justice Anthony Kennedy questioned the analogy of violent videogames to sexual materials, saying there
was "a societal consensus" on what sexual material was offensive, but no such consensus on violence.
"You're asking us to go into an entirely new area," Kennedy said.
Paul M. Smith, arguing for the videogame industry trade groups, said California's effort was a misguided
over-reaction to a new medium. He said the law was similar to past efforts to protect children from crime
novels, comic books, movies and music lyrics.
Smith said the industry's voluntary ratings system for videogames worked well and parental controls could
prevent children from playing violentgames.
Chief Justice Roberts wondered whether parental controls actually worked.
"Any 13-year-old can bypass parental controls in about five minutes," Roberts said.
The movie, music and publishing industries as well as Xbox video game console maker Microsoft Corp.
(MSFT) were among those who filed briefs urging the court to strike down the California law.
A ruling is expected by the end of June.
Document DJON000020101102e6b200069

US Supreme Court Voices Doubts About California Videogame Law
By Brent Kendall
626 words
2 November 2010
16:08
DJON
English
WASHINGTON -(Dow Jones)- The U.S. Supreme Court expressed doubts Tuesday about the
constitutionality of a California law that seeks to ban the sale of violent videogames to minors.
First Amendment.
special?"
The court also questioned how the state could determine how much violence in videogames was too much.
behavior.
unconstitutional.
Paul M. Smith, arguing for the videogame industry trade groups, said California's effort was a misguided over
reaction to a new medium. He said the law was similar to past efforts to protect children from crime novels,
comic books, movies and music lyrics.
prevent kids from playing certain games.

set them on fire.
-By Brent Kendall, Dow Jones Newswires; 202-862-9222; brent.kendall@dowjones.com
-0-
[ 11-02-10 1208ET ]
Document DJON000020101102e6b20005p

US Supreme Court Voices Doubts About California Videogame Law
By Brent Kendall
1,372 words
2 November 2010
15:18
DJ
English
WASHINGTON (Dow Jones)--The U.S. Supreme Court expressed doubts Tuesday about the constitutionality
of a California law that seeks to ban the sale of violent videogames to minors.
First Amendment.
special?"
The court also questioned how the state could determine how much violence in videogames was too much.
behavior.
unconstitutional.
Paul M. Smith, arguing for the videogame industry trade groups, said California's effort was a misguided over
reaction to a new medium. He said the law was similar to past efforts to protect children from crime novels,
comic books, movies and music lyrics.
prevent kids from playing certain games.

set them on fire.
-0-
[ 11-02-10 1153ET ]
(Updates with additional detail from the oral argument.)
By Brent Kendall
WASHINGTON (Dow Jones)--The U.S. Supreme Court expressed doubts Tuesday about the constitutionality
of a California law that seeks to ban the sale of violent videogames to minors.
First Amendment.
special?"
The court also questioned how the state could determine when violence in videogames is excessive.
set them on fire.
For example, Roberts suggested states might be able to require violent games to be located in separate area
of a retail store or placed on high shelves out of the reach of minors.

behavior.
unconstitutional.
Morazzini said video games are different than movies or books because they are interactive, with users
choosing to commit violent acts on characters in the games.
Justice Anthony Kennedy questioned the analogy of violent videogames to sexual materials, saying there
was "a societal consensus" on what sexual material was offensive, but no such consensus on violence.
"You're asking us to go into an entirely new area," Kennedy said.
Paul M. Smith, arguing for the videogame industry trade groups, said California's effort was a misguided
over-reaction to a new medium. He said the law was similar to past efforts to protect children from crime
novels, comic books, movies and music lyrics.
prevent children from playing violentgames.
Chief Justice Roberts wondered whether parental controls actually worked.
"Any 13-year-old can bypass parental controls in about five minutes," Roberts said.
Document DJ00000020101102e6b2000e3

Sony, Activision, Others Sued Over Software Activation By Uniloc
By Roger Cheng
490 words
29 July 2010
22:50
DJON
English
NEW YORK -(Dow Jones)- Sony Corp. (SNE), Activision Blizzard Inc. (ATVI) and several other companies
were sued by a software company best known for going after Microsoft Corp. (MSFT) over its use of a
product activation key.
Uniloc USA Inc. filed lawsuits in the U.S. District Court in the eastern district of Texas Thursday, alleging that
the companies illegally use Uniloc's technology that allows for the identification and activation of purchased
products.
Uniloc sued Sony's U.S. arm and its digital and optical media services business, video game publisher
Activision, security software provider McAfee Inc. (MFE), publishing software maker Quark Inc., Borland
Software Corp. and Aspyr Media Inc., which coverts PC games so they can run on Apple Inc.'s (AAPL) Mac
software.
Spokesmen for the companies weren't immediately available to comment.
Uniloc's actions mark the latest legal strike in the technology world, where more companies are resorting to
the courtroom to take on competitors or extract a new revenue stream through a forced licensing agreement.
In 2003, Uniloc sued Microsoft, alleging it illegally used its software activation key in Windows XP and Office.
The key is used to prevent people from making copies of the software or installing the programs on multiple
computers, as it requires a verification key tied to one device.
Uniloc initially won the initial suit and damages of $388 million last year after a six-year court battle, but a
judge later overturned the ruling.
Uniloc is appealing the ruling, with oral arguments on the case slated for Sept. 7.
"This is a huge source of patent infringement," Chief Executive Brad Davis said in an interview. "It's not all
what Uniloc is about, but it's something we have to address."
Uniloc, a privately held company based in Irvine, Calif., currently has licensing agreements with a number of
companies, including videogame publisher Sega Corp.
"The industry sees (software activation) as a solution to piracy," Davis said. He added that a majority of the
software industry uses the activation fee technology with few signing a licensing agreement, suggesting a
wide open field of companies to sue.
On charges that Uniloc is a patent troll, which holds intellectual property but doesn't operate its own business,
Davis said the company uses its technology to support ecommerce platforms.
It is just the latest company to take its differences to court. Last month, NTP Inc., which holds a number of
patents but doesn't manufacture products, filed lawsuits against Apple, Google Inc. (GOOG) and a number of
other smartphone companies over technology related to the wireless delivery of email. In June, Research in
Motion Ltd. (RIMM) agreed to pay a lump sump and ongoing royalties to Motorola Inc. (MOT).
-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com [ 07-29-10 1750ET ]
Document DJON000020100729e67t000aj

Sony, Activision Sued For Software Activation Tech By Uniloc
By Roger Cheng
490 words
29 July 2010
21:59
DJ
English
NEW YORK (Dow Jones)--Sony Corp. (SNE), Activision Blizzard Inc. (ATVI) and several other companies
were sued by a software company best known for going after Microsoft Corp. (MSFT) over its use of a
product activation key.
Uniloc USA Inc. filed lawsuits in the U.S. District Court in the eastern district of Texas Thursday, alleging that
the companies illegally use Uniloc's technology that allows for the identification and activation of purchased
products.
Uniloc sued Sony's U.S. arm and its digital and optical media services business, video game publisher
Activision, security software provider McAfee Inc. (MFE), publishing software maker Quark Inc., Borland
Software Corp. and Aspyr Media Inc., which coverts PC games so they can run on Apple Inc.'s (AAPL) Mac
software.
Spokesmen for the companies weren't immediately available to comment.
Uniloc's actions mark the latest legal strike in the technology world, where more companies are resorting to
the courtroom to take on competitors or extract a new revenue stream through a forced licensing agreement.
In 2003, Uniloc sued Microsoft, alleging it illegally used its software activation key in Windows XP and Office.
The key is used to prevent people from making copies of the software or installing the programs on multiple
computers, as it requires a verification key tied to one device.
Uniloc initially won the initial suit and damages of $388 million last year after a six-year court battle, but a
judge later overturned the ruling.
Uniloc is appealing the ruling, with oral arguments on the case slated for Sept. 7.
"This is a huge source of patent infringement," Chief Executive Brad Davis said in an interview. "It's not all
what Uniloc is about, but it's something we have to address."
Uniloc, a privately held company based in Irvine, Calif., currently has licensing agreements with a number of
companies, including videogame publisher Sega Corp.
"The industry sees (software activation) as a solution to piracy," Davis said. He added that a majority of the
software industry uses the activation fee technology with few signing a licensing agreement, suggesting a
wide open field of companies to sue.
On charges that Uniloc is a patent troll, which holds intellectual property but doesn't operate its own business,
Davis said the company uses its technology to support ecommerce platforms.
It is just the latest company to take its differences to court. Last month, NTP Inc., which holds a number of
patents but doesn't manufacture products, filed lawsuits against Apple, Google Inc. (GOOG) and a number of
other smartphone companies over technology related to the wireless delivery of email. In June, Research in
Motion Ltd. (RIMM) agreed to pay a lump sump and ongoing royalties to Motorola Inc. (MOT).
-By Roger Cheng, Dow Jones Newswires; 212-416-2153; roger.cheng@dowjones.com [ 07-29-10 1735ET ]
Document DJ00000020100729e67t0011p

2ndUPDATE:High Court To Consider Calif Law On Violent Video Games
664 words
26 April 2010
22:07
DJON
English
(Updates with comment from California's attorney general)
By Brent Kendall
WASHINGTON -(Dow Jones)- The U.S. Supreme Court agreed Monday to decide the constitutionality of a
California law that seeks to ban the sale of violent video games to minors.
Two lower courts struck down the law as an unconstitutional restriction on the freedom of speech.
California argued in its petition to the Supreme Court that lawmakers should be able to ban sales of violent
video games to those under 18 just as they can restrict the sale of sexual material to minors.
The state said violent video games were "a new, modern threat to children" that caused psychological harm
and made minors more likely to exhibit violent or aggressive behavior.
"This is an important issue with national implications, particularly in light of the growing evidence that these
games harm minors and that industry self-regulation through the existing rating system has proven
ineffective," the state said in its petition.
Two trade associations challenged the law, arguing that video games are a modern form of artistic expression
entitled to First Amendment protection.
"We strongly believe that the core constitutional protections afforded to all forms of media apply equally to
video games," said Michael D. Gallagher, president of the Entertainment Software Association, which
represents U.S. computer and video-game publishers.
Gallagher said the industry's voluntary rating system for video games had been a successful effort to inform
consumers and parents about the games' content.
If the Supreme Court sides with California, the decision "would take the most popular genre of games and
turn it on its head," said entertainment lawyer Stephen Smith of the Greenberg Glusker law firm in Los
Angeles.
Smith said games rated as "mature," such as Activision Blizzard Inc.'s (ATVI) "Call of Duty" and Take-Two
Interactive Software Inc.'s (TTWO) "Grand Theft Auto," are some of the industry's biggest sellers. Teen
audiences, he said, are a large enough percentage of the marketplace that the loss of those customers could
make it hard for companies to justify their current large budgets for creating and marketing such games.
Restricting sales to minors would not be easy because many games are purchased and played online, he
said.
The game must lack "serious literary, artistic, political or scientific value for minors," or it must allow a player
to virtually inflict serious injury in a manner that is "especially heinous, cruel or depraved in that it involves
torture or serious physical abuse to the victim."
California Attorney General Edmund G. Brown Jr. said in a written statement, "It is time to allow California's
common-sense law to go into effect and help parents protect their children from violent video games."
The Supreme Court's decision to consider the case came as something of a surprise because lower courts
have been unanimous in striking down laws similar to California's.
The state said at least nine state and local governments have passed similar measures.
A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that California didn't
have sufficient evidence to support the claim that violent video games harmed minors. The courts also said
there were other less-restrictive ways to prevent minors from playing the games, such as parental controls on
some gaming systems.
The case is Schwarzenegger v. Entertainment Merchants Assn., 08-1448.
Oral arguments will take place during the court's next term, which begins in October.
Document DJON000020100426e64q00076

UPDATE:High Court To Consider Calif Law On Violent Video Games
636 words
26 April 2010
20:50
DJON
English
(Updates with comment from the industry and additional detail and analysis on the case.)
By Brent Kendall
Angeles.
Smith said games rated as "mature," such as Call of Duty and Grand Theft Auto, are some of the industry's
biggest sellers. Teen audiences, he said, are a large enough percentage of the marketplace that the loss of
those customers could make it hard for companies to justify their current large budgets for creating and
marketing such games.
said.
The California Attorney General's office did not immediately respond to requests for comment.

A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that California did not
Document DJON000020100426e64q0006n

US Supreme Court To Consider Calif. Law On Violent Video Games
By Brent Kendall
320 words
26 April 2010
15:23
DJON
English
California appealed to the Supreme Court, arguing that lawmakers should be able to restrict sales of violent
The high court said in a short one-line order that it will hear the state's appeal.
California said violent video games harmed minors psychologically and made them more likely to exhibit
violent antisocial or aggressive behavior. The state also said that industry self-regulation was a failure.
Two trade associations challenged the law in court, arguing that video games are "a modern form of artistic
expression" and are entitled to First Amendment protection. The associations said the industry's voluntary
rating system for video games had been a successful effort to inform consumers and parents about the
games' content.
A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that the state did not
Other states have passed similar laws, but none of them have survived legal challenges brought by the
video-game industry.
Oral arguments are likely to take place in the fall.
-0-
[ 04-26-10 1023ET ]
Document DJON000020100426e64q0004b

2ndUPDATE:High Court To Consider Calif Law On Violent Video Games
664 words
26 April 2010
21:52
DJ
English
(Updates with comment from California's attorney general)
By Brent Kendall
WASHINGTON (Dow Jones)--The U.S. Supreme Court agreed Monday to decide the constitutionality of a
Angeles.
Smith said games rated as "mature," such as Activision Blizzard Inc.'s (ATVI) "Call of Duty" and Take-Two
Interactive Software Inc.'s (TTWO) "Grand Theft Auto," are some of the industry's biggest sellers. Teen
audiences, he said, are a large enough percentage of the marketplace that the loss of those customers could
make it hard for companies to justify their current large budgets for creating and marketing such games.
said.

California Attorney General Edmund G. Brown Jr. said in a written statement, "It is time to allow California's
common-sense law to go into effect and help parents protect their children from violent video games."
A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that California didn't
Document DJ00000020100426e64q000sd

UPDATE:High Court To Consider Calif Law On Violent Video Games
636 words
26 April 2010
20:35
DJ
English
(Updates with comment from the industry and additional detail and analysis on the case.)
By Brent Kendall
Angeles.
Smith said games rated as "mature," such as Call of Duty and Grand Theft Auto, are some of the industry's
biggest sellers. Teen audiences, he said, are a large enough percentage of the marketplace that the loss of
those customers could make it hard for companies to justify their current large budgets for creating and
marketing such games.
said.
The California Attorney General's office did not immediately respond to requests for comment.

A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that California did not
Document DJ00000020100426e64q000jp

US Supreme Court To Consider Calif. Law On Violent Video Games
By Brent Kendall
320 words
26 April 2010
15:01
DJ
English
California appealed to the Supreme Court, arguing that lawmakers should be able to restrict sales of violent
The high court said in a short one-line order that it will hear the state's appeal.
California said violent video games harmed minors psychologically and made them more likely to exhibit
violent antisocial or aggressive behavior. The state also said that industry self-regulation was a failure.
Two trade associations challenged the law in court, arguing that video games are "a modern form of artistic
expression" and are entitled to First Amendment protection. The associations said the industry's voluntary
rating system for video games had been a successful effort to inform consumers and parents about the
games' content.
A federal trial judge in San Jose and the 9th U.S. Circuit Court of Appeals each ruled that the state did not
Other states have passed similar laws, but none of them have survived legal challenges brought by the
video-game industry.
Oral arguments are likely to take place in the fall.
-0-
[ 04-26-10 1008ET ]
Document DJ00000020100426e64q0008w

Technology
Activision Ex-Developers Set Up Own Shop
By Dan Gallagher
532 words
13 April 2010
02:37
WSJO
English
Activision Blizzard Inc. saw the key developers of its blockbuster "Call of Duty: Modern Warfare" franchise set
up their own development studio Monday under a publishing deal with archrival Electronic Arts Inc.
The move is the latest in an escalating dispute between Activision and the former heads of its Infinity Ward
studio, who left the company last month in a dispute over bonuses and ownership rights related to "Call of
Duty: Modern Warfare 2"—one of the videogame industry's top-selling titles last year and the latest for the
highly rated Activision franchise.
On Monday, Jason West and Vince Zampella announced the formation of a studio called Respawn
Entertainment. The studio will retain ownership of the games it creates, which will be published and
distributed by EA.
"Now that the team is in control of the games and brands, we can ensure that the fans are treated as well as
they deserve," Mr. West said in a statement.
Activision fired Messrs. West and Zampella from Infinity Ward on March 1. Two days later, the pair filed a
lawsuit against the game publisher, accusing the company of withholding "substantial royalty payments" they
were owned for "Modern Warfare 2."
In a counter-suit filed Friday, Activision accused the pair of delaying the development of games and
negotiating with EA while still employed with the company. It also charged the two with intentionally
preventing Activision from paying bonuses to other staffers at the studio in an effort to make those employees
"easier to poach" for the new studio.
"West's and Zampella's misdeeds formed an unlawful pattern and practice of conduct that was designed to
steal the IW studio, which is one of Activision's most valuable assets, at the expense of Activision and its
shareholders and for their own personal financial gain," the company claimed in its lawsuit.
Robert Schwartz, an attorney for Messrs. West and Zampella, called Activision's charges "false and
outrageous" in a statement Friday.
Analysts say Activision faces little risk in the near term. The next "Call of Duty" game slated for release later
this year is being developed by another studio and not is using the "Modern Warfare" brand.
Over the longer term, the company could be challenged if Respawn develops a similar combat-shooter game
that takes share from the "Call of Duty" fan base.
"Activision faces two risks. One is that they don't have these guys anymore, and two is that they make a new
game somewhere else," said Michael Pachter, an analyst for Wedbush Morgan. "The risk is that 'Modern
Warfare' will face competition from its creators. They could split the market."
Coin Sebastian of Lazard Capital Markets said it will likely be two or three years before anyone sees the first
game from Respawn, given that the code will have to be developed from scratch. But he noted that Messrs.
West and Zampella have a compelling history. The two were key developers behind "Medal of Honor,"
another combat shooter owned by EA that ended up losing share to "Call of Duty."
Write to Dan Gallagher at dan.gallagher@dowjones.com
Document WSJO000020100413e64d0010b

Technology
Activision Blizzard Files Countersuit
Associated Press
154 words
12 April 2010
J
B5
English
SANTA MONICA, Calif. -- Two former studio heads overseeing last year's "Modern Warfare 2" videogame
were fired for insubordination and trying to poach key employees from Activision Blizzard Inc., the company
alleged in court filings.
Activision on Thursday countersued former Infinity Ward executives Jason West and Vince Zampella, who
sued Activision for more than $36 million in March. Messrs. West and Zampella's lawsuit claimed they were
fired so Activision could avoid paying them royalties for their work.
Activision's filing seeks to show the firing was justified and claims the men met with a key gaming rival, which
it says was one of several violations of their employment contract.
Messrs. West and Zampella's attorney, Robert M. Schwartz, called the countersuit's claims "false and
outrageous."
The cases are filed in Santa Monica, Calif., where Activision is based. The company is majority-owned by
French conglomerate Vivendi SA.
Document J000000020100412e64c0001f

Activision Loses 'Modern Warfare' Developers To Electronic Arts
By Dan Gallagher
813 words
12 April 2010
21:27
DJ
English
Activision Blizzard Inc. (ATVI) saw the key developers of its blockbuster "Call of Duty: Modern Warfare"
franchise set up their own development studio Monday under a publishing deal with arch-rival Electronic Arts
Inc. (ERTS).
The move is the latest in an escalating dispute between Activision and the former heads of its Infinity Ward
studio, who left the company last month in a dispute over bonuses and ownership rights related to "Call of
Duty: Modern Warfare 2"--one of the video-game industry's top-selling titles last year and the latest for the
highly rated Activision franchise.
On Monday, Jason West and Vince Zampella announced the formation of a studio called Respawn
distributed by EA.
they deserve," West said in a statement.
Shares of EA closed up 4 cents to $19.40 and were up to $19.47 in recent late trading. Activision shares were
down to $12.45 in late trading from the Monday close of $12.50.
Activision fired West and Zampella from Infinity Ward on March 1. Two days later, the pair filed a lawsuit
against the game publisher, accusing the company of withholding "substantial royalty payments" they were
owned for "Modern Warfare 2."
In a counter-suit filed against West and Zampella on Friday, Activision accused the pair of delaying the
development of games and negotiating with EA while still employed with the company. It also charged the two
with intentionally preventing Activision from paying bonuses to other staffers at the studio in an effort to make
those employees "easier to poach" for the new studio.
"West's and Zampella's misdeeds formed an unlawful pattern and practice of conduct that was designed to
Robert Schwartz, an attorney for West and Zampella, called Activision's charges "false and outrageous" in a
statement Friday.
Over the longer term, the company could face some risk if Respawn develops a similar combat-shooter game
"Activision faces two risks. One is that they don't have these guys anymore, and two is that they make a new
game somewhere else," said Michael Pachter, an analyst for Wedbush Morgan. "The risk is that 'Modern
game from Respawn, given that the code will have to be developed from scratch.
But he noted that West and Zampella have a compelling history. The two were key developers behind "Medal
of Honor"--another combat shooter owned by EA that ended up losing share to "Call of Duty."

"Activision needs to make sure that 'Call of Duty' doesn't fall into the same curse that 'Medal of Honor' did,"
Sebastian added. "We won't really know until the holidays of 2011," when the next game under the "Modern
Warfare" brand is expected.
Todd Mitchell of Kaufman Brothers said he sees little risk to Activision from the dispute. He noted speculation
that Activision may try to take future "Call of Duty" releases to a multiplayer platform, similar to the company's
hit "World of Warcraft."
"Changing the format may require a different skill set. Executing that change is more important than driving
the 'Call of Duty' story line," he commented.
Mitchell also suggested there's little upside for EA in the new deal, since Respawn will own the rights to its
games and EA will simply get a publishing deal that typically brings in margins "in the mid- to high single
digits."
Wedbush's Pachter, who is also an attorney, predicted that Activision will likely have to make payments to
West and Zampella once the case works through the system, but the company is unlikely to lose its
ownership of the "Modern Warfare" series.
"The court is likely to split the difference and say that Activision owns the brand and the Infinity Ward guys will
get some money," he said, adding that "Activision will not pay it until a court orders them to."
-By Dan Gallagher, 415-439-6400; AskNewswires@dowjones.com [ 04-12-10 1627ET ]
Document DJ00000020100412e64c000oj

News & Commentary
Activision loses 'Modern Warfare' developers to rival EA; Move may take share from blockbuster
franchise, analysts say
Dan Gallagher, MarketWatch
MarketWatch; dgallagher@marketwatch.com; Dan Gallagher is MarketWatch's technology editor, based in
San Francisco.
841 words
12 April 2010
20:38
MarketWatch
MRKWC
English
SAN FRANCISCO (MarketWatch) -- Activision Blizzard Inc. saw the key developers of its blockbuster "Call of
Duty: Modern Warfare" franchise set up their own development studio Monday under a publishing deal with
arch-rival Electronic Arts Inc.
The move is the latest in an escalating dispute between Activision (ATVI, US) and the former heads of its
Infinity Ward studio, who left the company last month in a dispute over bonuses and ownership rights related
to "Call of Duty: Modern Warfare 2" -- one of the video-game industry's top-selling titles last year and the
latest for the highly rated Activision franchise.
On Monday, Jason West and Vince Zampella announced the formation of a new studio called Respawn
distributed by EA (ERTS, US)
they deserve," West said in a statement.
Shares of EA were trading up nearly 1% at $19.54 by Monday afternoon. Activision shares were relatively
flat.
Activision fired West and Zampella from Infinity Ward on March 1. Two days later, the pair filed a lawsuit
against the game publisher, accusing the company of withholding "substantial royalty payments" they were
owned for "Modern Warfare 2."
In a counter suit filed against West and Zampella on Friday, Activision accused the pair of delaying the
development of games and negotiating with EA while still employed with the company. It also charged the two
with intentionally preventing Activision from paying bonuses to other staffers at the studio in an effort to make
those employees "easier to poach" for the new studio.
"West and Zampella's misdeeds formed an unlawful pattern and practice of conduct that was designed to
Robert Schwartz, an attorney for West and Zampella, called Activision's charges "false and outrageous" in a
statement Friday.
Risk to Activision?
Over the longer term, the company could face some risk if Respawn develops a similar combat-shooter game
"Activision faces two risks. One is that they don't have these guys anymore, and two is that that they make a
new game somewhere else," said Michael Pachter, an analyst for Wedbush Morgan. "The risk is that 'Modern
game from Respawn, given that the code will have to be developed from scratch.
But he noted that West and Zampella have a compelling history. The two were key developers behind "Medal
of Honor" -- another combat shooter owned by EA that ended up losing share to 'Call of Duty."
"Activision needs to make sure that 'Call of Duty' doesn't fall into the same curse that 'Medal of Honor' did,"
Sebastian added. "We won't really know until the holidays of 2011," when the next game under the "Modern
Warfare" brand is expected.
Todd Mitchell of Kaufman Brothers said he sees little risk to Activision from the dispute. He noted speculation
that Activision may try to take future "Call of Duty" releases to a multiplayer platform, similar to the company's
hit "World of Warcraft."
"Changing the format may require a different skill set. Executing that change is more important than driving
the 'Call of Duty' story line," he commented.
Mitchell also suggested there's little upside for EA in the new deal, since Respawn will own the rights to its
games and EA will simply get a publishing deal that typically brings in margins "in the mid- to high single
digits."
Wedbush's Pachter, who is also an attorney, predicted that Activision will likely have to make payments to
West and Zampella once the case works through the system, but the company is unlikely to lose its
ownership of the "Modern Warfare" series.
"The court is likely to split the difference and say that Activision owns the brand and the Infinity Ward guys will
get some money," he said, adding that "Activision will not pay it until a court orders them to."
The developers of “Call of Duty: Modern Warfare” franchise set up their own studio under a publishing deal
with arch-rival Electronic Arts.
Document MRKWC00020100412e64c003xp

UPDATE: Activision Files Countersuit Against Former Employees
534 words
9 April 2010
22:17
DJON
English
(Adds attorney comment starting in the sixth paragraph and updated stock price.)
By Andrew Morse
SAN FRANCISCO -(Dow Jones)- Activision Blizzard Inc. (ATVI) filed a countersuit against two former
executives responsible for its smash-hit "Call of Duty" franchise, the latest chapter in a legal battle with plot
twists reminiscent of some of the videogames made by the company.
Activision, Santa Monica, Calif., claims Jason West and Vincent Zampella violated their employment
contracts by stalling development of games in order to get more money, hiring talent agents and negotiating
with its principal competitor, according to a 22-page lawsuit filed Thursday.
West and Zampella also prevented Activision from awarding bonuses to members of their team, a tactic
Activision alleges was designed to make the others more receptive to employment offers after the pair
established a new company.
"West and Zampella morphed from valued, responsible executives into insubordinate and self-serving
schemers who attempted to hijack Activision's assets for their own personal gain," the lawsuit reads. The
lawsuit says those actions "threatened both the future of the 'Call of Duty' franchise and the future of
Activision's IW studio," referring to the Infinity Ward unit led by West and Zampella.
Activision's action follows a lawsuit filed last month by West and Zampella, who claimed their employment
had been prematurely terminated so the videogame giant could avoid payments to the pair for their work on
"Call of Duty: Modern Warfare 2." The pair are seeking compensation for their termination.
Robert Schwartz, a partner at O'Melveny & Myers LLP representing West and Zampella, called Activision's
claims "outrageous."
"None of this changes the fact that Jason and Vince would still be at Infinity Ward developing new games
except that Activision kicked them out," Schwartz said in an emailed statement. "This is just an Activision
tactic to avoid paying Jason and Vince and everyone else at Infinity Ward the millions of dollars they all
earned and that Activision owes them."
Schwartz also suggested that West and Zampella were working on a new project and "plan to have an
announcement very soon."
"Modern Warfare 2," a combat game in which players control soldiers, is one of the biggest-selling
videogames in the history of the industry. In its first five days in stores, the game grossed roughly a half billion
dollars, outpacing some of Hollywood's biggest blockbuster films.
In the lawsuit, Activision claims West and Zampella surreptitiously hired agents and attorneys to negotiate
with other parties even though the pair had "years left on their exclusive employment contracts with
Activision."
The lawsuit also says the pair embarked on "a secret trip by private jet" to northern California to meet with
senior executives at Activision's closest competitor. The lawsuit doesn't name the competitor, but videogame
maker Electronics Arts Inc. (ERTS) is located just outside of San Francisco.
An Electronics Arts spokesman wasn't immediately available for comment.
Activision shares closed at $12.48, up nearly 3% Friday and are unchanged in recent after-hours trading.

-By Andrew Morse, Dow Jones Newswires; 415-439-6402; andrew.morse@dowjones.com [ 04-09-10
1717ET ]
Document DJON000020100409e64900060

Activision Files Countersuit Against Former Employees
By Andrew Morse
424 words
9 April 2010
20:43
DJON
English
SAN FRANCISCO -(Dow Jones)- Activision Blizzard Inc. (ATVI) filed a countersuit against two former
twists reminiscent of some of the videogames the company makes.
Santa Monica, Calif.-based Activision claims Jason West and Vincent Zampella violated their employment
Activision alleges was designed to make them more receptive to employment offers after the pair established
a new company.
lawsuit says those actions "threatened both the future of the Call of Duty franchise and the future of
Activision's IW studio," referring to the Infinity Ward unit that West and Zampella led.
Attorneys representing West and Zampella weren't immediately available for comment.
Activision."
In late afternoon trading, Activision shares were up 3% at $12.48.

1543ET ]
Document DJON000020100409e6490005m

UPDATE: Activision Files Countersuit Against Former Employees
534 words
9 April 2010
22:02
DJ
English
(Adds attorney comment starting in the sixth paragraph and updated stock price.)
By Andrew Morse
SAN FRANCISCO (Dow Jones)--Activision Blizzard Inc. (ATVI) filed a countersuit against two former
twists reminiscent of some of the videogames made by the company.
Activision, Santa Monica, Calif., claims Jason West and Vincent Zampella violated their employment
Activision alleges was designed to make the others more receptive to employment offers after the pair
established a new company.
lawsuit says those actions "threatened both the future of the 'Call of Duty' franchise and the future of
Activision's IW studio," referring to the Infinity Ward unit led by West and Zampella.
Robert Schwartz, a partner at O'Melveny & Myers LLP representing West and Zampella, called Activision's
claims "outrageous."
"None of this changes the fact that Jason and Vince would still be at Infinity Ward developing new games
except that Activision kicked them out," Schwartz said in an emailed statement. "This is just an Activision
tactic to avoid paying Jason and Vince and everyone else at Infinity Ward the millions of dollars they all
earned and that Activision owes them."
Schwartz also suggested that West and Zampella were working on a new project and "plan to have an
announcement very soon."
Activision."
Activision shares closed at $12.48, up nearly 3% Friday and are unchanged in recent after-hours trading.
1702ET ]
Document DJ00000020100409e649000qa

Activision Files Countersuit Against Former Employees
By Andrew Morse
424 words
9 April 2010
20:28
DJ
English
SAN FRANCISCO (Dow Jones)--Activision Blizzard Inc. (ATVI) filed a countersuit against two former
twists reminiscent of some of the videogames the company makes.
Santa Monica, Calif.-based Activision claims Jason West and Vincent Zampella violated their employment
Activision alleges was designed to make them more receptive to employment offers after the pair established
a new company.
lawsuit says those actions "threatened both the future of the Call of Duty franchise and the future of
Activision's IW studio," referring to the Infinity Ward unit that West and Zampella led.
Attorneys representing West and Zampella weren't immediately available for comment.
Activision."
In late afternoon trading, Activision shares were up 3% at $12.48.

1528ET ]
Document DJ00000020100409e649000j1

Why Some Toys Don't Get Discounted --- Manufacturers Set Price Minimums That Retailers Must
Follow Or Risk Getting Cut Off; Shopping Around for 'Rock Band 2'
By Joseph Pereira
1,288 words
24 December 2008
J
D1
English
At a time when retailers are slashing prices to attract last-minute Christmas shoppers, many stores aren't
marking down certain popular gift items at all.
That's because of little-known manufacturer agreements that require retailers to refrain from discounting,
especially in any advertising. If retailers don't comply, manufacturers sometimes stop subsidizing ads or cut
off supplies altogether.
This season's products affected by pricing agreements include Guitar Hero World Tour Band Kit from
Activision Blizzard Inc., documents show. The video musical game has been priced at $189 at Best Buy Inc.,
Circuit City Corp. and Toys "R" Us Inc. since its October release. A new rival product, Electronic Arts Inc.'s
Rock Band 2 Special Edition, also has been retailing for that price at all three outlets.
"Activision Publishing Inc. would like to inform you of its Minimum Advertised ('MAP') program," the game
maker wrote to retailers in a letter dated Sept. 24. The letter, which says it won't subsidize any
advertisements that violate the policy, goes on to list 19 products and their minimum prices, including Guitar
Hero and the James Bond: Quantum of Solace videogame.
Activision Blizzard didn't respond to requests for comment.
Similarly, the minimum-advertised price for Rock Band is $189, according to a list outlining pricing policies for
dozens of videogames that was sent to retailers by a major distributor earlier this month. A spokesman for
Electronic Arts declined to comment.
The pricing terms are outlined in letters given to retailers and distributors, some of which were obtained by
The Wall Street Journal.
Minimum-price agreements between manufacturers and retailers were once deemed automatically
anticompetitive and thus illegal under a 1911 Supreme Court ruling. Pricing agreements related to advertising
-- which critics say are used to discourage any discounting at all -- also have run into legal trouble in the past
when federal officials found they resulted in higher prices for consumers.
But in a controversial decision last year, the Supreme Court opened the door for manufacturers to set
minimum prices as a means to enhance a brand's image and for retailers to make enough profit on their
merchandise to provide better customer service. The 5-4 ruling reversed a 96-year-old precedent and said
cases should now be considered on a case-by-case basis, weighing the impact of pricing policies against
free-market principles.
In the wake of the decision, many manufacturers have instituted pricing minimums for advertising or sales.
Opponents of the ruling, including eBay Inc. and Costco Wholesale Corp., are hoping the decision will be
reversed by legislation expected to be debated in Congress next year. The bill's sponsor, Sen. Herb Kohl (D.,
Wis.), argues that minimum-pricing agreements violate the Sherman Act, the law that prohibits price fixing
and bid rigging.
"However you want to dress up these policies with fancy legal language, these policies are obviously in the
interest of business and not the consumer," says Jacob Weiss, founder of StopPriceFixing.org, a Web site
that aims to end minimum pricing policies by educating consumers about them.
Many traditional retailers favor minimum-pricing agreements because they help put a stop to what the stores
view as unfair competition from online sellers, which can charge less because they have lower overhead
costs.

George McMahon, chief executive of Cheaperthancatalogs.com, an online toy and children's furniture retailer,
says retail markups generally have been around 50% "for the last 10 to 15 years, but recently they've fallen to
about 42%." Mr. McMahon, who was previously in the catalog business, says that catalog companies "like
their markups at about 50%" because of their added expense of printing, postage and shipping.
Markups are the difference in percentage between the wholesale price a retailer pays to a manufacturer and
the retail price charged to consumers. Markup percentages among toy mass merchants are generally in the
high 30s to low 40s, analysts say.
Noticing a spike in interest in minimum-pricing policies by companies since the Supreme Court ruling, Mr.
McMahon says that he has started another business -- MAPtrackers.com -- that helps manufacturers keep
track of what retailers are charging for their products.
Mr. McMahon agrees consumers "will think it odd when they go on the Internet and find all the products at
exactly the same price." But he adds, "Minimum-pricing policies level the playing field" by keeping every
retailer's markups the same.
On Dec. 1, Sony Computer Entertainment America, Sony Corp.'s U.S. unit, sent out a notice to its regional
and district managers listing minimum-advertised prices for nearly two dozen products, according to a copy of
the document. The prices include $499 for the PlayStation 3 with 80 gigabytes of memory and $49 for a
wireless keypad, a PS3 accessory.
While many companies don't care what prices retailers advertise for older products, Sony lists an MAP of
$129 for the PlayStation 2, which was first released eight years ago. The notice cites two items -- the PS2
Singstar Bundle and the PS2 LEGO Batman Bundle -- that the company states aren't subject to its MAP
policy.
The document doesn't mention what would happen if retailers don't comply. A review this week of online
stores that sell Sony videogame products found that nearly all of them were advertising and charging the
minimum prices.
"Unfortunately, this is not something we can speak to at this time," says a spokeswoman for Sony Computer
Entertainment Inc., Sony Corp.'s videogames unit in Foster City, Calif.
Manufacturers often don't like retailers to discuss their pricing agreements publicly. A 2008 MAP agreement
from electronic learning-aids manufacturer LeapFrog Enterprises Inc. states, "This policy is considered
confidential and should be respected as such relative to conversations with LeapFrog competitors."
On the LeapFrog list are seven items, including its TAG Reading System with a MAP of $49.99; Clickstart
with a $59.99 MAP; Leapster 2 at $69.99; and Didj at $89.99. "No advertising or promotional funding of any
kind will be paid to a retailer in violation of this M.A.P. policy from the date of infraction through the balance of
2008," the document states. Company officials weren't available for comment, a LeapFrog spokeswoman
says.
Some manufacturers threaten to cut off supplies to retailers that charge below minimum prices outlined in
agreements. One example is Alex Inc., in Northvale, N.J., which makes play houses and arts-and-crafts
supplies, among other products.
In a July 22 notice to retailers -- both online and with stores -- a sales manager from Alex wrote that prices
shouldn't be reduced by more than 10% of the suggested retail price listed on the manufacturer's Web site.
To maintain the company's "integrity and high standards of manufacturing, we must maintain the price
integrity of our products," the letter said.
The letter noted that while most of its retailers respected the policy, "a few" Internet sellers hadn't.
"Alex will vigorously monitor all the channels of distribution of our products, identify those who do not stay
within our guidelines and sever our relationship with those who elect to deviate from the above stated policy,"
the letter states.
The president of the company, Rick Amdur, said he has not punished any of the "half-dozen or so" violators
this year. But starting next year, he plans to cut off supplies to retailers that don't abide by the agreement.
The policy, he adds, aims to protect distributors "we've been dealing with for 20-plus years."
Document J000000020081224e4co0000m

2nd UPDATE:Gibson Sues Viacom, Electronic Arts Over Rock Band
396 words
21 March 2008
22:34
DJ
English
(Updates to add comment from Harmonix Music Systems.)
DOW JONES NEWSWIRES
After going after one guitar-playing video game, Gibson Guitar Corp. has filed a federal patent-infringement
lawsuit against another by suing the creator and publisher of "Rock Band."
Gibson sued Viacom Inc. (VIA) units Harmonix Music Systems and MTV Networks, and Electronic Arts Inc.
(ERTS) in Tennessee days after suing six retailers - including Wal-Mart Stores Inc. (WMT) - that sell the
blockbuster Activision Inc. (ATVI) game "Guitar Hero."
Harmonix developed "Guitar Hero" but broke away from the brand after the game's publisher and rights
owner was acquired by Activision. Viacom's MTV then bought Harmonix, seeing in the deal a way to blend its
legacy in the music industry with video games, a form of entertainment also enjoyed by its young viewers.
Earlier this month, Activision filed a federal lawsuit asking that a Gibson patent be declared invalid and that
the court rule that "Guitar Hero" isn't infringing on any patent. Gibson alleges "Guitar Hero" too closely
matches a musical virtual-reality patent from 1999.
Activision filed its federal suit after Gibson allegedly notified Activision that it believed the "Guitar Hero"
software and its guitar-shaped controller were covered by Gibson's patent. Gibson asked that Activision
obtain a license from the instrument maker under the patent or stop sales of the game, according to the
lawsuit. Activision contends it already licenses Gibson's trademark rights in association with the controller.
In January, Activision said its "Guitar Hero" franchise surpassed $1 billion in North American sales in 26
months.
"This lawsuit is completely without merit and we intend to defend it vigorously. Gibson's patent, filed nearly 10
years ago, required a 3D display, a real musical instrument and a recording of a concert," said a Harmonix
spokeswoman in an e-mailed statment. "Rock Band and Guitar Hero are completely different: among other
things they are games, require no headset and use a controller only shaped like a real instrument. It is
unfortunate that Gibson unfairly desires to share in the tremendous success enjoyed by the developers of
Rock Band and Guitar Hero."
Representatives from MTV and Electronic Arts weren't available for comment.
-By Kevin Kingsbury; Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com [ 03-21-08

1834ET ]
Document DJ00000020080321e43l000ef

UPDATE: Gibson Sues Viacom, Electronic Arts Over 'Rock Band'
295 words
21 March 2008
19:11
DJ
English
DOW JONES NEWSWIRES
After going after one guitar-playing video game, Gibson Guitar Corp. has filed a federal patent-infringement
lawsuit against another by suing the creator and publisher of "Rock Band."
Gibson sued Viacom Inc. (VIA) units Harmonix Music Systems and MTV Networks, and Electronic Arts Inc.
(ERTS) in Tennessee days after suing six retailers - including Wal-Mart Stores Inc. (WMT) - that sell the
blockbuster Activision Inc. (ATVI) game "Guitar Hero."
Harmonix developed "Guitar Hero" but broke away from the brand after the game's publisher and rights
owner was acquired by Activision. Viacom's MTV then bought Harmonix, seeing in the deal a way to blend its
legacy in the music industry with video games, a form of entertainment also enjoyed by its young viewers.
Earlier this month, Activision filed a federal lawsuit asking that a Gibson patent be declared invalid and that
the court rule that "Guitar Hero" isn't infringing on any patent. Gibson alleges "Guitar Hero" too closely
matches a musical virtual-reality patent from 1999.
Activision filed its federal suit after Gibson allegedly notified Activision that it believed the "Guitar Hero"
software and its guitar-shaped controller were covered by Gibson's patent. Gibson asked that Activision
obtain a license from the instrument maker under the patent or stop sales of the game, according to the
lawsuit. Activision contends it already licenses Gibson's trademark rights in association with the controller.
months.
Representatives from Harmonix, MTV and Electronic Arts weren't immediately available for comment.
-By Kevin Kingsbury; Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com [ 03-21-08

1511ET ]
Document DJ00000020080321e43l00098

Press Statement From Gibson Guitar In Regards To Harmonix Lawsuit
167 words
21 March 2008
18:03
DJ
English
DOW JONES NEWSWIRES
Gibson Guitar Corp. said it filed a patent infringement lawsuit in federal court in Tennessee against Harmonix
Music Sytems Inc., Viacom Inc.'s (VIAB) MTV Networks and Electronic Arts Inc. (ERTS) related to the "Guitar
Hero" game.
Earlier this week, Gibson sued Wal-Mart Stores Inc. (WMT) and five other major retailers that sell the
Activision Inc. (ATVI) game.
Earlier this month, Activision filed a lawsuit in federal court in Los Angeles, asking the court to declare a
Gibson patent invalid and rule that "Guitar Hero" doesn't infringe on Gibson's patent.
Gibson alleges "Guitar Hero" too closely matches a musical virtual-reality patent from 1999.
Representatives from Harmonix, MTV and Electronic Arts weren't immediately available for comment.
-Jennifer Hodson; 201-938-5400; AskNewswires@dowjones.com
Order free Annual Report for Electronic Arts
Visit http://djnewswires.ar.wilink.com/?link=ERTS or call 1-888-301-0513 [ 03-21-08 1442ET ]
Document DJ00000020080321e43l0008f

UPDATE: Gibson Guitar Sues Retailers Over 'Guitar Hero' Game
486 words
20 March 2008
23:27
DJ
English
NASHVILLE, Tenn. (AP)-- Gibson Guitar Corp. on Thursday sued Wal-Mart Stores Inc. (WMT) and five other
major retailers that sell the Activision Inc. (ATVI) "Guitar Hero" game, claiming it violates a patent it holds.
A federal lawsuit filed Monday claims Wal-Mart, Target Corp. (TGT), Kmart, Amazon.com Inc., GameStop
Corp. (GME) and Toys "R" Us should stop selling the game.
Gibson has already tried to stop video game publisher Activision from selling all versions of the game,
claiming it too closely matches a musical virtual-reality patent from 1999.
The guitar company said in a released statement that it took "this action reluctantly, but is required to protect
its intellectual property."
Earlier this month, Activision filed suit in California asking a federal judge to declare the game does not
violate the patent.
Spokeswomen for Wal-Mart and Amazon said the companies do not comment on pending litigation. Officials
with the four other retailers did not immediately return calls seeking comment.
Santa Monica, Calif.,-based Activision contends Gibson's patent assertions have no merit. Gibson has said it
wants Activision to stop selling "Guitar Hero" until it gets a license under the patent.
"Our 'Guitar Hero' retailing partners have done nothing wrong," Activision said in released statement. "We will
confront this and any other efforts by Gibson to wrongfully interfere with Activision's relationship with its
customers and its consumers."
Gibson attorneys sent Activision a letter in January accusing it of violating a patent titled "System and Method
for Generating and Controlling a Simulated Musical Concert Experience," according to a lawsuit filed by
Activision.
A copy of the patent is included in Gibson's lawsuit and dated Nov. 23, 1999. It describes a device that lets a
user "simulate participation in a concert by playing a musical instrument and wearing a head-mounted 3-D
display that includes stereo speakers."
The device also includes playback of audio and video of a prerecorded concert and a separate track of audio
from the user's instrument.
"Guitar Hero" users perform songs using a stringless, plastic guitar that plugs into a game console. A TV
connected to the gaming console displays animated musicians playing along and graphics that guide users'
play.
In Gibson's lawsuit, it states the company "has been damaged and will continue to be damaged by the
aforesaid infringement unless defendants are enjoined, preliminarily and permanently, from selling and
offering for sale infringing products ..."
Founded in 1894 in Kalamazoo, Mich., and headquartered in Nashville since 1984, Gibson Guitar Corp. has
brands including Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex and Wurlitzer.
The various "Guitar Hero" titles have helped boost Activision's sales, with the company reporting last month a
90% increase in profit for the third quarter ended Dec. 31 - in part due to strong sales of "Guitar Hero III:
Legends of Rock." [ 03-20-08 1927ET ]
Document DJ00000020080320e43k000tw

Press Statement From Gibson Guitar In Regards To Guitar Hero Retailer Lawsuit
196 words
20 March 2008
20:11
DJ
English
DOW JONES NEWSWIRES
Gibson Guitar Corp. filed a lawsuit against various retailers that are selling the "Guitar Hero" video game
made by Activision Inc. (ATVI).
The retailers involved weren't specified in Gibson's press release.
Gibson alleges that the video game infringes on one of its U.S. patents and recently said it will "vigorously
defend its rights in a lawsuit brought by Activision.
The Nashville musical instrument maker said it tried to settle the issue by negotiating with Activision directly,
but claims that Activision initiated litigation without notice to Gibson.
Last Thursday, Activision filed a suit against Gibson saying its Guitar Hero video game doesn't infringe on a
Gibson patent for a "system and method for generating and controlling a simulated musical concert
experience."
Activision's lawsuit alleges that Gibson notified Activision in January that it believed the Guitar Hero software
and its guitar-shaped controller were covered by Gibson's patent.
Activision previously said it already licenses Gibson's trademark rights for the Guitar Hero Les Paul
Controller.
-Nicholas Hatcher; Dow Jones Newswires; 201-938-5400 [ 03-20-08 1645ET ]
Document DJ00000020080320e43k000l5

Business
CHORDS OF DISSONANCE - HARMONIX FRETS OVER ACTIVISION 'GUITAR HERO' ROYALTIES
BRIAN GARRITY
421 words
13 March 2008
New York Post
NYPO
40
English
(c) 2008 N.Y.P. Holdings, Inc. All rights reserved.
Activision and Viacom are out of tune when it comes to splitting royalties from the hit video game "Guitar Hero
III."
The situation boiled over earlier this week when Harmonix - the creator of the "Guitar Hero" franchise, now a
unit of Viacom's MTV Networks - filed and, then quickly withdrew, a $14.5 million lawsuit against Activision
claiming unpaid royalties from the latest version of the game.
While Harmonix didn't create the newest "Guitar Hero" installment, it alleged in the suit, filed in California
Superior Court, that Activision is shortchanging them on the use of legacy intellectual property still contained
in the game.
Harmonix also complained that it is not seeing any money it is entitled to from merchandising, music
downloads, in-game advertising and brand licensing deals. The company further alleged that it believes it will
be underpaid by "tens of millions of dollars per year" as Activision develops further spinoffs.
"Guitar Hero III" has sold 6.5 million units since its release last fall, according to NPD. Harmonix already
collects royalties from the first two versions of the game, which has developed into a $1 billion franchise.
Activision acquired control of "Guitar Hero" in 2006 when it purchased former Harmonix publisher Red
Octane.
The suit, first reported by Variety, was pulled back within 24 hours, amid cooler heads and vows from both
companies to negotiate further to reach an amicable settlement.
However, the situation has laid bare the lingering tensions that exist between Activision and Viacom as the
bid for dominance in music-simulation video games.
Harmonix, acquired by Viacom in 2006, last fall introduced a new "Guitar Hero" rival called "Rock Band"
which has sold over 1 million copies since its release. Revenue associated with "Rock Band" and "Guitar
Hero" fueled a 72 percent jump in Viacom's fourth-quarter ancillary revenue.
Activision executives maintain Harmonix's complaint is "without merit." Viacom and MTV Networks execs
declined comment.
Sources familiar with the situation said that Activision believes Harmonix is being appropriately compensated.
Activision is also being sued by guitar maker Gibson over alleged patent infringement related to "Guitar
Hero."
----
Pulling strings
Harmonix is in talks with Activision to settle a $14.5 million royalty row.
* "Guitar Hero III" has sold 6.5 million units since its debut.
* "Guitar Hero" fueled a 72% jump in Viacom's fourth quarter revenue.
* "Rock Band" has sold 1.5 million copies over the same time period.
"Guitar Hero."
Document NYPO000020080313e43d0001m

Gibson To 'Vigorously Defend' Rights In Activision Suit
By Chad Bray
260 words
13 March 2008
18:06
DJ
English
NEW YORK (Dow Jones)-- Gibson Guitar Corp. said Thursday that it intends "vigorously defend its rights" in
a lawsuit brought by Activision Inc. (ATVI) earlier this week over Activision's popular videogame "Guitar
Hero."
In a press release, the Nashville, Tenn., musical instrument maker said it has been involved with ongoing
discussions with Activision about the videogame infringing Gibson's patent for a "system and method for
generating and controlling a simulated musical concert experience."
"Gibson has rights to request a license of Activision, which is currently using its patent as it relates to the
guitar controllers," Gibson said. "In addition, the company has encouraged Activision to enter into discussions
in an effort to secure a conclusion to the matter. Instead, Activision chose to release a public statement to
media and to file a lawsuit. Gibson Guitar stands behind its claim in this matter."
Gibson declined further comment in the matter.
Activision, a Santa Monica, Calif., videogame maker, filed a lawsuit Tuesday in U.S. District Court in Los
Angeles on Tuesday, asking the court to declare that "Guitar Hero" doesn't infringe on Gibson's patent and
the patent is invalid.
Vivendi SA (12777.FR) agreed last year to merge its games division with Activision in a deal valued at $18.9
billion. The new entity will be named Activision Blizzard, with Vivendi owning a 68% stake.
- Chad Bray; Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com [ 03-13-08 1406ET ]
Document DJ00000020080313e43d000fp

Activision Sues Gibson, Says 'Guitar Hero' Doesn't Infringe
By Chad Bray
439 words
12 March 2008
22:10
DJ
English
NEW YORK (Dow Jones)-- Activision Inc. (ATVI) has sued Gibson Guitar Corp., saying its popular video
game "Guitar Hero" doesn't infringe on a Gibson patent.
The lawsuit, filed Tuesday in U.S. District Court in Los Angeles, asks the court to declare the video game
doesn't infringe on the Nashville, Tenn., musical instrument maker's patent for a "system and method for
generating and controlling a simulated musical concert experience" and that Gibson's patent is invalid.
"Despite being aware of the Guitar Hero game for many years, Gibson has encouraged Activision to
manufacture and sell devices it now alleges infringe" the patent, the lawsuit said.
The lawsuit alleges that Gibson notified Activision in January that it believed the "Guitar Hero" software and
its guitar-shaped controller were covered by Gibson's patent. Gibson asked that Activision obtain a license
from the instrument maker under the patent or stop sales of the game, according to the lawsuit.
"By continuing to sell any version of the Guitar Hero game software and/or instrument controllers for use with
the Guitar Hero game software - packaged or sold standalone - Activision is taking advantage of Gibson's
patented technology without properly compensating Gibson," said F. Leslie Bessenger III, Gibson's lawyer, in
a letter attached to the lawsuit. "Gibson respects the intellectual property of others and expects others to
respect its intellectual property as well."
Activision already licenses Gibson's trademark rights in association with the Guitar Hero Les Paul controller,
according to the letter.
The Santa Monica, Calif., video game maker ultimately decided it didn't want or need a license under
Gibson's patent and informed Gibson in a letter Monday that it did not infringe on the patent, according to the
lawsuit.
"Gibson is a good partner and we have a great deal of respect for them," said George Rose, Activision's
general counsel, in a statement. "We disagree with the applicability of their patent and would like a legal
determination on this."
months.
A Gibson spokeswoman was out of the country Wednesday and didn't immediately respond to an email
seeking comment.
Vivendi SA (12777.FR) agreed last year to merge its games division with Activision in a deal valued at $18.9
billion. The new entity will be named Activision Blizzard, with Vivendi owning a 68% stake.
- Chad Bray; Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com [ 03-12-08 1810ET ]
Document DJ00000020080312e43c000qn

Viacom Files Then Withdraws Suit Against Rival Activision
By Ben Charny
217 words
12 March 2008
21:38
DJ
English
SAN FRANCISCO (Dow Jones)--"Guitar Hero" game developer Harmonix Music Systems Inc., which is
owned by media company Viacom Inc. (VIA,VIAB), this week filed and within 24 hours withdrew a $14.5
million breach-of-contract lawsuit against rival Activision Publishing Inc. (ATVI).
The two sides had been in talks to settle their issues and thus avoid litigation in the days before the suit was
filed in a Los Angeles County Superior Court.
"By withdrawing the suit, we can continue discussions with Viacom about claims each party may have,"
Activision said in a statement.
A Viacom spokesman had no comment when asked whether, as has been suggested, the suit was
mistakenly filed, or was to serve as a tactical move to help Viacom get more leverage with negotiations.
The withdrawn suit alleged Harmonix is entitled to a higher royalty rate on the sale of "Guitar Hero," one of
the gaming industry's bigger recent hits.
Activision shares shed 1.1% to $26.82 Wednesday, and were down fractionally after-hours. Viacom closed up
4 cents to $38.49, and was unchanged after hours.
-By Ben Charny, Dow Jones Newswires; 415-765-8230; ben.charny@dowjones.com [ 03-12-08 1738ET ]
Document DJ00000020080312e43c000pl

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DJ Officer HIRSHBERG Sells 62,564 Of ACTIVISION BLIZZARD INC >ATVI

FILER: HIRSHBERG ERIC

DATE TRANSACTION SHARES PRICE VALUE

OWNERSHIP: 0 (Direct) 58,088 (Indirect)

Insider Data Source: The Washington Service

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August 14, 2013 21:30 ET (01:30 GMT)

Page 1 of 158 © 2023 Factiva, Inc. All rights reserved.

SOURCE: Form 144

FILER: WEREB STEPHEN G

Form 144 Data Source: The Washington Service

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Page 2 of 158 © 2023 Factiva, Inc. All rights reserved.

FILER: TIPPL THOMAS

DATE TRANSACTION SHARES PRICE VALUE

OWNERSHIP: 30,000 (Indirect)

* - 757,605 shares exercised 2 years, 1 month before expiration.

Insider Data Source: The Washington Service

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August 13, 2013 19:14 ET (23:14 GMT)

Page 3 of 158 © 2023 Factiva, Inc. All rights reserved.

SOURCE: Form 144

FILER: WEREB STEPHEN G

Form 144 Data Source: The Washington Service

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Page 4 of 158 © 2023 Factiva, Inc. All rights reserved.

SOURCE: Form 144

FILER: WEREB STEPHEN G

Form 144 Data Source: The Washington Service

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August 07, 2013 22:33 ET (02:33 GMT)

Page 5 of 158 © 2023 Factiva, Inc. All rights reserved.

FILER: WEREB STEPHEN G

DATE TRANSACTION SHARES PRICE VALUE

* - 103,334 shares exercised 7 years, 3 months before expiration.

Insider Data Source: The Washington Service

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August 07, 2013 21:08 ET (01:08 GMT)

Page 6 of 158 © 2023 Factiva, Inc. All rights reserved.

FILER: TIPPL THOMAS

DATE TRANSACTION SHARES PRICE VALUE

OWNERSHIP: 511,142 (Indirect)

* - 226,782 shares exercised 2 years, 2 months before expiration.

Insider Data Source: The Washington Service

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August 07, 2013 20:58 ET (00:58 GMT)

Page 7 of 158 © 2023 Factiva, Inc. All rights reserved.

FILER: KELLY BRIAN G

DATE TRANSACTION SHARES PRICE VALUE

8/1/13 Exercise 17,685 $0.00 N/A

OWNERSHIP: 2,056,597 (Direct) 1,287,176 (Indirect)

Insider Data Source: The Washington Service

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FILER: KOTICK ROBERT A

DATE TRANSACTION SHARES PRICE VALUE

OWNERSHIP: 928,955 (Direct) 9,600 (Indirect)

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August 05, 2013 19:58 ET (23:58 GMT)