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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------------------------------------
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: August 28, 2009
(Date of earliest event reported)
Forgent Networks, Inc.
(Exact name of registrant as specified in its charter)
TX 0-20008 74-2415696
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification Number)
108 Wild Basin Rd 78746
(Address of principal executive (Zip Code)
offices)
512-437-2700
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On August 28, 2009, at Asure Software's (the "Company") Annual Meeting of
Stockholders, the Company's shareholders,
(1) voted to elected Pat Goepel, Bob Graham, Jeff Vogel, Adrian
Pertierra, Cornelius Ferris and David Sandberg to serve as the
Company's Board of Directors and
(2) voted not to ratify the appointment of Ernst & Young LLP as the
Company's independent registered public accounting firm for the year
ending August 31, 2009.
On August 31, 2009 the Company announced that it had dismissed all claims of
the Federal Lawsuit against eighteen of its shareholders.
Item 9.01. Financial Statements and Exhibits
(a) Financial statements:
None
(b) Pro forma financial information:
None
(c) Shell company transactions:
None
(d) Exhibits
99.1 Asure Software Press Release Dated August, 31 2009
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: September 3, 2009 FORGENT NETWORKS, INC.
By: /s/ Nancy L. Harris
Nancy L. Harris
Exhibit Index
Exhibit No. Description
99.1 99.1 Asure Software Press Release Dated August, 31 2009
Red Oak Partners, Pinnacle Fund, and Asure Software Announce Results of
Election of New Board of Directors and Dismissal of Federal Suit
Austin, Texas, August 31, 2009. Asure Software (NASDAQ: ASUR), a leading
provider of workforce management software, Red Oak Partners, LLC, and Pinnacle
Fund LLLP announced today that Pat Goepel, Bob Graham, Jeff Vogel, Adrian
Pertierra, and David Sandberg were elected at Asure's 2009 Annual Meeting of
Stockholders, held on Friday, August 28, to serve as the Company's board of
directors. According to the certified election results, each of Pinnacle's
nominees received between 57% to 67% of votes cast vs. between 27% to 29% for
each of the prior Board's nominees, with a quorum representing approximately
62% of the total voting shares outstanding.
"We are grateful for the overwhelming support shown for our slate of Directors
and intend to improve both corporate governance and transparency in the
near-term," stated David Sandberg, Managing Partner of Red Oak Partners and
newly elected Chairman of Asure's Board of Directors. "The new Board is highly
vested and intent on both rationalizing public company expenses (starting with
my Director fees, which will be $1/year) and working with Asure's employees to
grow and unlock the value of the business."
"I look forward to working with the new Board of Directors and to the
opportunities that lie ahead for the Company," said Nancy L. Harris, President
and Chief Executive Officer at Asure.
In other business at Asure's annual meeting, stockholders voted not to ratify
the selection of Ernst & Young LLP as the Company's independent registered
public accounting firm for the fiscal year ending July 31, 2009, by a margin of
58% of votes cast opposing vs. 42% in favor.
Additionally, Asure dismissed all claims of the Federal Lawsuit against
eighteen of its shareholders. Stated David Sandberg, "After three failed
attempts by the prior Board to seek expedited discovery followed by the Federal
Court denying their request for a preliminary injunction, we agree with the
courts and are glad to put this suit to rest so that we may focus our efforts
on increasing shareholder value."
About Asure Software
Headquartered in Austin, Texas, Asure Software (ASUR), (a d/b/a of Forgent
Networks, Inc.), empowers small to mid-size organizations and divisions of
large enterprises to operate more efficiently, increase worker productivity and
reduce costs through a comprehensive suite of on-demand workforce management
software and services. Asure's market-leading suite includes products that
optimize workforce time and attendance tracking, benefits enrollment and
tracking, pay stubs and W2 documentation, expense management, and meeting and
event management. With additional offices in Warwick, Rhode Island, Vancouver,
British Columbia, and Mumbai, India, Asure serves 3,500 customers around the
world. For more information, please visit www.asuresoftware.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995:
Statements in this press release regarding Asure's business which are not
historical facts are "forward-looking statements" that involve risks and
uncertainties. Such risks and uncertainties, which include those associated
with continued listing of the Company's securities on the NASDAQ Capital
Market, could cause actual results to differ from those contained in the
forward-looking statements.
For further information contact:
Lisa Flynn, Asure Software: (512) 437-2678
David Sandberg, Red Oak Partners, LLC: (212) 614-8952