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)
Filed by the Registrant [ ]
Filed by a Party other than the Registrant [X ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] CONFIDENTIAL, FOR USE OF THE COMMISSION ONLY (AS PERMITTED BY RULE
14A-6(E)(2))
[ ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[X ] Soliciting Material Pursuant to 240.14a-12
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)
Payment of Filing Fee (Check the appropriate box):
[X ] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee
is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number, or
the Form or Schedule and the date of its filing.
(1) Amount Previously Paid:
(2) Form, Schedule or Registration Statement No.:
(3) Filing Party:
(4) Date Filed:
The Committee to Restore Stockholder Value issued the following press release
on January 24, 2007:
For immediate release
COMMITTEE TO RESTORE STOCKHOLDER VALUE CONTINUES
TO HOLD SUBSTANTIAL LEAD IN PROXY CHALLENGE
AGAINST COMPETITIVE TECHNOLOGIES
AUGUSTA, GA (JANUARY 24, 2007) THE COMMITTEE TO RESTORE STOCKHOLDER VALUE
announced today that the voice of shareholders of Competitive Technologies, Inc.
(AMEX: CTT) has resulted in a strong majority casting its vote for the
Committee's slate of directors in the current proxy challenge. For the benefit
of all CTT shareholders, and in the spirit of cooperation to insure an orderly
transition at CTT, the Committee believes it is time for the previous Board to
step down and relinquish their positions at CTT.
The Committee's slate of directors continues to hold a substantial lead in the
votes cast in the current proxy challenge. A total of approximately 2.6 million
shares have voted for the Committee's slate versus approximately 1.7 million for
CTT's current management. This continues to clearly show a majority of
shareholder votes support the Committee slate. Votes, of course, are subject to
change and newly submitted proxy cards will revoke previously voted cards.
Consequently, the Committee strongly requests CTT shareholders that previously
voted a White proxy to send in a new BLUE proxy to support the Committee's
nominees.
A meeting was held yesterday between independent election inspector groups on
behalf of both the Committee and current CTT management, as well as
representatives from the Committee and CTT. It was determined at the meeting
that the vote count used by CTT current management and their election inspectors
at CTT's Annual Meeting held on January 16, 2007 inexplicably did not include
votes cast on Saturday, January 13, Sunday, January 14, Monday, January 15, or
Tuesday, January 16 prior to the start of the meeting at 10 AM ET. This resulted
in approximately 670,000 votes cast by banks and brokers in favor of the
Committee's nominees uncounted at the Annual Meeting. There were also a
substantial number of uncounted votes resulting from unresolved voting issues
from shareholders who may not have properly voted their shares.
Due to the incomplete counting, the votes analyzed did not represent a necessary
quorum, more than 50% of shares outstanding.
It continues to baffle the Committee how several days of legitimate CTT
shareholder-cast votes were not included in the vote count used at the January
16 meeting.
Based on the votes cited above, the Committee believes that their slate of
directors will win an overwhelming victory. The Committee's slate of directors
has not yet been elected because no vote on that matter was called at the
Annual Meeting. However, the shareholder-elected Committee slate is prepared to
move quickly to represent all shareholders.
As of the close of business January 23, 2007, approximately 2.4 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, approximately
200,000 registered shares were voted for the Committee slate out of the
approximately 320,000 total registered shares eligible to vote. Additionally,
approximately 140,000 shares were voted as abstain for the current management
and approximately 20,000 for the Committee. Consequently, 4,534,199 shares have
voted or approximately 56.6%. On the record date, November 20, 2006, there were
approximately 8.0 million shares outstanding and eligible to vote. Shareholders
are again cautioned that votes are subject to change, and newly submitted proxy
cards will revoke previously voted cards. The Committee again strongly requests
shareholders that previously voted a White proxy to send in a new BLUE proxy to
support the Committee's nominees.
UNTIL THIS ISSUE IS FULL RESOLVED, SHAREHOLDERS ARE REMINDED THAT THEY MUST VOTE
ON THE BLUE PROXY FOR THE COMMITTEE'S SLATE OF DIRECTORS FOR THE VOTE TO COUNT
FOR THE COMMITTEE NOMINEES. THE BLUE PROXY CAN BE VOTED IMMEDIATELY ON LINE
(WWW.PROXYVOTE.COM) OR BY PHONE (1-800-454-8683).
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