Sandell Responds to Misleading Commentary of JDS Uniphase

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NEW YORK--(BUSINESS WIRE)--

Sandell Asset Management Corp. (“Sandell”), a significant stockholder of JDS Uniphase Corporation JDSU (“JDSU” or the “Company”), issued the following response to commentary contained in the Company's DEFA14A supplement to its Proxy Statement filed on December 1:

“We believe that JDSU's purported attempt to “clarify” certain “key facts” in the December 1 supplement to its Proxy Statement is misleading and smacks of desperation. Stockholders should not be misled by the Company's apparent efforts to obfuscate and confuse. What is undisputed, and what the Company conveniently fails to address, is that JDSU provided notice of its Annual Meeting after the close of trading on October 6, exactly 60 days prior to the December 5 Annual Meeting date, when notice of Director nominations were due not less than 60 days prior to the date of the Annual Meeting, which rendered it effectively impossible for stockholders to nominate Directors in a timely manner. Furthermore, the Company completely omits the fact that as a result of this apparent attempt to frustrate the exercise of stockholder rights, Institutional Shareholder Services (ISS) has recommended that stockholders vote “AGAINST” Martin Kaplan, a Director of JDSU since 1997 and the Chairman of the Company's Governance Committee. Notwithstanding the Company's desperate attempts to justify its actions, we believe that the steps taken by JDSU were designed to disenfranchise stockholders and silence stockholder voices.”

Sandell encourages all JDSU stockholders to vote “AGAINST” current Directors Martin Kaplan and Thomas Waechter at the Company's upcoming Annual Meeting.

About Sandell Asset Management Corp.

Sandell Asset Management Corp. is a leading private, alternative asset management firm specializing in global corporate event-driven, multi-strategy investing with a strong focus on equity special situations and credit opportunities. Sandell Asset Management Corp. was founded in 1998 by Thomas E. Sandell and has offices in New York and London, including a global staff of investment professionals, traders and infrastructure specialists.

Sandell Asset Management Corp.
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Posted In: Press Releases
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