JDS Uniphase Says Reviewed Possible Change To Advance-Notice Provisions

(RTTNews) - Responding to Sandell Asset Management's letter, JDS Uniphase Corp. (JDSU) said that its board remains committed to acting in the best interest of all shareholders and to strong corporate governance.

Consistent with the Board's historical approach of regularly reviewing corporate governance best practices, and after discussions with many of the Company's shareholders both before and after the December 2014 Annual Meeting, the Company undertook an evaluation of potential changes to the advance notice provisions of the Company's bylaws. The Board expects to finalize its decision on any such changes in this calendar quarter following additional shareholder outreach.

As JDSU continues to execute on its previously announced separation, the Board remains committed to evaluating all opportunities for additional or greater value creation.

On Tuesday, Sandell Asset Management Corp. called for the immediate amendment of JDS Uniphase Corp.'s Bylaws to remedy changes made in May 2014 that were detrimental to shareholder rights. Sandell reiterated need for JDSU to pursue further strategic actions to maximize shareholder value.