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  "documentTitle": "Tessera Technologies Inc. (TSRA)",
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  "notes": "Uses rhetorical questioning to highlight potential cronyism.",
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      "text": "Are we really expected to believe these individuals were identified by “a third party search firm” and their relationships with Chairman Hill are a coincidence?",
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      "text": "In Tessera's proxy materials, the Company states: \"The three new independent directors, Messrs. Chenault, Miner and Seams, were each recommended to the Board and the Nominating Committee by Michael Reich & Associates, a third party search firm.\"",
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      "text": "But at least two of the new directors have direct ties to the Company's newly appointed Chairman, Richard Hill.",
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      "text": "Mr. Chenault served in several roles at Novellus since 1991, most recently as interim CFO, where he worked for Mr. Hill, who was CEO of Novellus at the time. Mr. Miner currently serves on the board of directors of LSI Corporation alongside Mr. Hill.",
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      "text": "We seriously question whether a comprehensive and objective search for independent candidates with appropriate skill sets for Tessera would have resulted in the selection of these individuals.",
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      "text": "It is this type of potential consolidation of power under the new Chairman, Richard Hill, that became problematic under the leadership of former Chairman Boehlke.",
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      "text": "In addition, none of the new nominees have experience that is directly relevant to Tessera's businesses. Tessera is primarily an IP licensing company, yet these individuals have different backgrounds in semiconductor capital equipment, venture capital, and semiconductor products.",
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      "text": "We believe that the Company, in an attempt to appease shareholders during this election contest, hastily assembled a new Board made up of a combination of incumbent directors and new directors, many of whom lack relevant experiences and have questionable allegiances.",
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      "text": "We Have Serious Concerns About the Credentials of the Existing Board",
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