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WASHINGTON (AP) - A shareholders group including Trinad Capital Master Fund Ltd. made an offer to Majesco Entertainment Co. to buy 2 million shares from the video-game maker at a price of $1.50 a share.
The Trinad group, which currently holds a 12.4 percent stake in Majesco Entertainment, also said it intends to nominate three people for election to Majesco's board at the 2006 annual meeting.
In a letter sent to Majesco that was disclosed in a regulatory filing Monday with the Securities and Exchange Commission, the Trinad group continued to request that Jessie and Joey Sutton, the sons of Majesco Chief Executive Morris Sutton, immediately resign or be removed as officers of the company.
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