UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 14A
PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE
SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
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14A-6(E)(2))
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COMPETITIVE TECHNOLOGIES, INC.
(NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
THE COMMITTEE TO RESTORE STOCKHOLDER VALUE
(NAME OF PERSON(S) FILING PROXY STATEMENT, IF OTHER THAN THE REGISTRANT)
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The Committee to Restore Stockholder Value issued the following press release
on January 19, 2007 at 12:04 pm:
For immediate release
COMMITTEE TO RESTORE STOCKHOLDER VALUE EXPANDS LEAD
IN PROXY CHALLENGE AGAINST COMPETITIVE TECHNOLOGIES
AUGUSTA, GA (JANUARY 19, 2007) THE COMMITTEE TO RESTORE STOCKHOLDER VALUE
announced today that their slate of Directors for the Board of Competitive
Technologies, Inc. (AMEX: CTT) have expanded their lead in the votes cast in the
current proxy challenge. A total of approximately 2.56 million shares have voted
for the Committee's slate versus approximately 1.74 million for the CTT current
management. This clearly shows a majority of shareholder votes support the
Committee slate.
The Committee believes that on the scheduled meeting date of January 16, 2007 a
quorum, more than 50% of shares outstanding, was represented at the meeting and
that the Committee had a majority of the shares cast. This information has been
provided to the SEC. It is the Committee's opinion that there is no adjournment
of the original meeting. The Committee continues to wait for IVS, Independent
Voting Services, to provide a certified report of the votes present at the
meeting.
In spite of the facts cited above, current management continues to award
additional benefits to D.J. Freed, not in compliance with his contract.
Announced management changes are meaningless in light of the legal and binding
shareholder election that is taking place showing a majority of shares for the
Committee's slate of Directors, and that a quorum is present for the suspended,
not adjourned, Annual Meeting of CTT shareholders. The Committee believes that
these results have placed their slate of directors in charge and responsible to
the shareholders of CTT. It is time for the previous Board to step down and
relinquish their positions.
As of last night, approximately 2.3 million of the approximate 7.7 million
shares held by CTT shareholders through their bank or broker have been voted in
favor of the Committee's slate, versus only approximately 1.7 million for the
current management. Also, over approximately 0.25 million registered shares were
voted for the Committee slate out of the approximately 0.32 million total
registered shares eligible to vote. Additionally, approximately 0.13 million
shares were voted as abstain for the current management, and approximately 0.02
million for the Committee. Approximately 4.4 million shares have voted,
continuing to fulfill the quorum requirement of 50%, or just over 4.0 million
shares. On the record date, November 20, 2006, there were approximately 8.0
million shares outstanding and eligible to vote.
UNTIL THIS ISSUE IS FULLY RESOLVED, SHAREHOLDERS ARE REMINDED THAT THEY MUST
VOTE ON THE BLUE PROXY FOR THE COMMITTEE'S SLATE OF DIRECTORS FOR THE VOTE TO
COUNT.
The Committee reminds CTT shareholders that if they are dissatisfied with the
way in which the Annual Meeting on January 16, 2007 was conducted, or any other
subsequent action by current CTT management, they can register a complaint by
accessing the "File Tip or Complaint" section of the Investor Information
portion of the Securities and Exchange website, www.sec.gov, or send a fax to
202 772 9295.
More information on the Committee's proxy filing (DFRN14A, filed by
non-management on December 26, 2006) is available at the SEC website,
www.sec.gov, under company filings. Any questions can be addressed by contacting
the Committee.
Contact: John Derek Elwin III
Tel: 561 789 6449
Email: restorevalue@yahoo.com