-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CJ2ny0zzfStksphHwmgm74mkQ78dQUjR51Wy3P60SzaIfrH6tt/k5P4FCWSpGzam 1mlrJWXJ/MfZr+OTTcZg7g== 0000902664-05-002124.txt : 20051108 0000902664-05-002124.hdr.sgml : 20051108 20051108170607 ACCESSION NUMBER: 0000902664-05-002124 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20051108 DATE AS OF CHANGE: 20051108 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRG SCHULTZ INTERNATIONAL INC CENTRAL INDEX KEY: 0001007330 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ENGINEERING, ACCOUNTING, RESEARCH, MANAGEMENT [8700] IRS NUMBER: 582213805 STATE OF INCORPORATION: GA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-48923 FILM NUMBER: 051186969 BUSINESS ADDRESS: STREET 1: 600 GALLERIA PARKWAY STREET 2: STE 100 CITY: ATLANTA STATE: GA ZIP: 30339-5949 BUSINESS PHONE: 7707793311 MAIL ADDRESS: STREET 1: 600 GALLERIA PARKWAY STREET 2: STE 100 CITY: ATLANTA STATE: GA ZIP: 30339-5949 FORMER COMPANY: FORMER CONFORMED NAME: PROFIT RECOVERY GROUP INTERNATIONAL INC DATE OF NAME CHANGE: 19960207 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BLUM CAPITAL PARTNERS LP CENTRAL INDEX KEY: 0000938775 IRS NUMBER: 943205364 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 909 MONTGOMERY STREET # 400 CITY: SAN FRANCISCO STATE: CA ZIP: 94133 BUSINESS PHONE: 4154341111 MAIL ADDRESS: STREET 1: 909 MONTGOMERY STREET STREET 2: SUITE 400 CITY: SAN FRANCISCO STATE: CA ZIP: 94133 FORMER COMPANY: FORMER CONFORMED NAME: BLUM RICHARD C & ASSOCIATES L P DATE OF NAME CHANGE: 19970219 SC 13D 1 sc13d.txt PRG-SCHULTZ INTERNATIONAL, INC. - --------------- --------------------------------------------------------- SEC POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF 1746 (11-02) INFORMATION CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. - --------------- --------------------------------------------------------- -------------------------------- UNITED STATES OMB APPROVAL -------------------------------- SECURITIES AND EXCHANGE COMMISSION OMB Number: -------------------------------- WASHINGTON, D.C. 20549 Expires: -------------------------------- Estimated average burden hours per response . . . . . 11 -------------------------------- SCHEDULE 13D (AMENDMENT NO. 10) Under the Securities Exchange Act of 1934 PRG-SCHULTZ INTERNATIONAL, INC. - -------------------------------------------------------------------------------- (Name of Company) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 69357C107 - -------------------------------------------------------------------------------- (CUSIP Number of Class of Securities) Andre Weiss, Esq. Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022 (212) 756-2431 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 26, 2005 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Schedule) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See section 240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). SCHEDULE 13D - ------------------------------ ------------------------- CUSIP NO. 69357C107 PAGE 2 OF 13 PAGES - ------------------------------ ------------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BLUM CAPITAL PARTNERS, L.P. I.R.S. ID: 94-3205364 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) /X/ - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------- 4 SOURCE OF FUNDS* See Item 3 - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 0 BY EACH REPORTING --------- ------------------------------------------------ PERSON WITH 8 SHARED VOTING POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) --------- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 20.8% (see Item 5) - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN, IA - ----------- -------------------------------------------------------------------- SCHEDULE 13D - ------------------------------ ------------------------- CUSIP NO. 69357C107 PAGE 3 OF 13 PAGES - ------------------------------ ------------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) RICHARD C. BLUM & ASSOCIATES, INC. I.R.S. ID: 94-2967812 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) /X/ - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------- 4 SOURCE OF FUNDS* See Item 3 - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 0 BY EACH REPORTING --------- ------------------------------------------------ PERSON WITH 8 SHARED VOTING POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) --------- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.8% (see Item 5) - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - ----------- -------------------------------------------------------------------- SCHEDULE 13D - ------------------------------ ------------------------- CUSIP NO. 69357C107 PAGE 4 OF 13 PAGES - ------------------------------ ------------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BLUM STRATEGIC GP, L.L.C. I.R.S. ID: 94-3303831 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) /X/ - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------- 4 SOURCE OF FUNDS* See Item 3 - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 0 BY EACH REPORTING --------- ------------------------------------------------ PERSON WITH 8 SHARED VOTING POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) --------- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 20.8% (see Item 5) - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- SCHEDULE 13D - ------------------------------ ------------------------- CUSIP NO. 69357C107 PAGE 5 OF 13 PAGES - ------------------------------ ------------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BLUM STRATEGIC PARTNERS II, L.P. I.R.S. ID: 94-3395151 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) /X/ - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------- 4 SOURCE OF FUNDS* See Item 3 - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION California - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF SHARES BENEFICIALLY OWNED 0 BY EACH REPORTING --------- ------------------------------------------------ PERSON WITH 8 SHARED VOTING POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) --------- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) (see Item 5) 20.8% (see Item 5) - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - ----------- -------------------------------------------------------------------- SCHEDULE 13D - ------------------------------ ------------------------- CUSIP NO. 69357C107 PAGE 6 OF 13 PAGES - ------------------------------ ------------------------- - ----------- -------------------------------------------------------------------- 1 NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) BLUM STRATEGIC GP II, L.L.C. I.R.S. ID: 94-3395150 - ----------- -------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /X/ (b) /X/ - ----------- -------------------------------------------------------------------- 3 SEC USE ONLY -------------------------------------------------------------------- 4 SOURCE OF FUNDS* See Item 3 - ----------- -------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ----------- -------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------- --------- ------------------------------------------------ 7 SOLE VOTING POWER NUMBER OF 0 SHARES --------- ----------------------------------------------- BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING 13,939,012 shares (including 4,651,939 shares PERSON WITH issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) --------- ------------------------------------------------ 9 SOLE DISPOSITIVE POWER 0 --------- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 13,939,012 shares (including 4,651,939 shares issuable upon conversion of notes and payable as shares of interest under the notes) (see Item 5) - ----------- -------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - ----------- -------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 20.8% (see Item 5) - ----------- -------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - ----------- -------------------------------------------------------------------- This Amendment No. 10 amends the Statement on Schedule 13D (the "Schedule 13D") filed with the Securities and Exchange Commission (the "Commission") on September 2, 2003 by Blum Capital Partners, L.P., a California limited partnership, ("Blum L.P."); Richard C. Blum & Associates, Inc., a California corporation ("RCBA Inc."); Blum Strategic GP, L.L.C., a Delaware limited liability company ("Blum GP"); Blum Strategic GP II, L.L.C., a Delaware limited liability company ("Blum GP II"); Blum Strategic Partners II, L.P., a Delaware limited partnership ("Blum Strategic II") (collectively, the "Reporting Persons"); and Richard C. Blum. This amendment to the Schedule 13D relates to the shares of Common Stock (the "Shares") of PRG-Schultz International, Inc., a Georgia corporation (the "Company"). The following amendments to the Schedule 13D are hereby made. Unless otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the Schedule 13D. ITEM 2. IDENTITY AND BACKGROUND Item 2 of the Schedule 13D is hereby amended as follows: Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the executive officers and directors of Blum L.P. and RCBA Inc. The principal business office address of Blum L.P. and RCBA Inc. is 909 Montgomery Street, Suite 400, San Francisco, California 94133. The names of the executive officers and directors of Blum L.P. and RCBA Inc., their addresses, citizenship and principal occupations are as follows:
Principal Occupation or NAME AND OFFICE HELD BUSINESS ADDRESS CITIZENSHIP EMPLOYMENT - -------------------- ---------------- ----------- ------------- Richard C. Blum 909 Montgomery St. USA President & Chairman, President & Chairman Suite 400 Blum L.P. San Francisco, CA 94133 Nils Colin Lind 909 Montgomery St. Norway Managing Partner, Managing Partner & Suite 400 Blum L.P. Director San Francisco, CA 94133 John C. Walker 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133
Principal Occupation or NAME AND OFFICE HELD BUSINESS ADDRESS CITIZENSHIP EMPLOYMENT - -------------------- ---------------- ----------- ------------- John H. Park 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Gregory L. Jackson 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Jeffrey A. Cozad 909 Montgomery St. USA Partner, Partner Suite 400 Blum, L.P. San Francisco, CA 94133 Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief Partner, Chief Suite 400 Financial Officer, Financial Officer, San Francisco, CA 94133 Blum, L.P. Assistant Secretary & Director Gregory D. Hitchan 909 Montgomery St. USA General Counsel & General Counsel & Secretary Suite 400 Secretary, San Francisco, CA 94133 Blum, L.P.
Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the members of Blum GP. Blum GP is a Delaware limited liability company whose principal business is acting as the sole general partner of Blum Strategic Partners L.P. The principal business office address of Blum GP is 909 Montgomery Street, Suite 400, San Francisco, CA 94133. The names of the managing members and members of Blum GP, their addresses, citizenship and principal occupations are as follows:
Name and Business Citizen- Principal Occupation Office Held Address ship or Employment - ---------------------- ------------------------- ----------- ----------------------- Richard C. Blum 909 Montgomery St. USA President & Blum L.P. Chairman, Suite 400 Managing Member San Francisco, CA 94133 Nils Cohn Lind 909 Montgomery St. Norway Managing Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 John C. Walker 909 Montgomery St. USA Partner, Member Suite 400 Blum L.P. San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Member Suite 400 Blum L.P. San Francisco, CA 94133 Marc T. Scholvinck 909 Montgomery St. USA Partner, Blum L.P. Member Suite 400 San Francisco, CA 94133 Jeffrey A. Cozad 909 Montgomery St. USA Partner, Blum L.P. Member Suite 400 San Francisco, CA 94133 Gregory D. Hitchan 909 Montgomery St. USA General Counsel & Secretary Member & General Suite 400 Blum L.P. Counsel San Francisco, CA 94133
Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the managing members and members of Blum GP II. Blum GP II is a Delaware limited liability company whose principal business is acting as the sole general partner of Blum Strategic Partners II, L.P. and also as managing limited partner of Blum Strategic Partners II GmbH & Co. KG. The principal business office address of Blum GP II is 909 Montgomery Street, Suite 400, San Francisco, CA 94133. The names of the managing members and members of Blum GP II, their addresses, citizenship and principal occupations are as follows:
Principal Occupation or NAME AND OFFICE HELD BUSINESS ADDRESS CITIZENSHIP EMPLOYMENT - -------------------- ---------------- ----------- ------------- Richard C. Blum 909 Montgomery St. USA President & Chairman, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Nils Colin Lind 909 Montgomery St. Norway Managing Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133
Principal Occupation or NAME AND OFFICE HELD BUSINESS ADDRESS CITIZENSHIP EMPLOYMENT - -------------------- ---------------- ----------- ------------- John C. Walker 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 John H. Park 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Gregory L. Jackson 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Marc T. Scholvinck 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum, L.P. San Francisco, CA 94133 Jeffrey A. Cozad 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum, L.P. San Francisco, CA 94133 Gregory D. Hitchan 909 Montgomery St. USA General Counsel & Member, General Counsel & Secretary Suite 400 Secretary, San Francisco, CA 94133 Blum, L.P.
To the best knowledged of the Reporting Persons, none of the entities or persons identified in this Item 2 has, during the past five years, been convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors), nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. ITEM 4. PURPOSE OF TRANSACTION. Item 4 of the Schedule 13D is hereby supplemented by the following: On October 26, 2005 at the request of the Issuer, an Ad Hoc Committee of holders of the Convertible Notes (the "Ad Hoc Committee") was organized to consider strategic alternatives relating to the Issuer. On October 26, 2005 members of the Ad Hoc Committee entered into a confidentiality agreement with the Issuer. A copy of the confidentiality agreement is attached as an exhibit hereto and incorporated into this Item 4 by reference. The members of the Ad Hoc Committee are filing this statement because they may be deemed to be part of a "group" within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended. The Ad Hoc Committee met with the management of the Issuer on October 26, 2005, and may do so again or otherwise communicate with the management or Board of Directors of the Issuer. Reporting Persons intend to review their investment in the Issuer on a continuing basis. Although no Reporting Person has any specific plan or proposal to acquire or dispose of the Issuer's securities, consistent with its investment purpose, each Reporting Person at any time and from time to time may acquire additional securities of the Issuer or dispose of any or all of its investment in the Issuer depending upon an ongoing evaluation of the investment in the Issuer's securities, price and availability of securities of the Issuer, subsequent developments affecting the Issuer, its business and prospects, general prevailing market and economic conditions, tax considerations, other investment opportunities, liquidity requirements of the Reporting Persons and/or other investment considerations and factors deemed relevant. In addition, each of the Reporting Persons may in the future take such actions with respect to its investment in the Issuer as it deems appropriate including, without limitation, seeking board representation, making proposals to the Issuer concerning changes to the capitalization, ownership structure or operations of the Issuer, engaging in short selling of or any hedging or similar transaction with respect to the Common Stock or changing its intention with respect to any and all matters referred to in Item 4. Also, consistent with the investment purpose, the Reporting Persons may engage in communications with one or more shareholders of the Issuer, one or more officers of the Issuer and/or one or more members of the board of directors of the Issuer and/or one or more representatives of the Issuer regarding the Issuer, including but not limited to its operations. The Reporting Persons may discuss ideas that, if effected may result in any of the following: the acquisition by persons of additional securities of the Issuer, an extraordinary corporate transaction involving the Issuer, and/or changes in the board of directors or management of the Issuer. Except as set forth above, the Reporting Persons have no oral or written agreements, understandings or arrangements with each other or any other person relating to acquiring, holding, voting or disposing of any securities of the Issuer or otherwise with respect to the Issuer. Although the foregoing represents the range of activities presently contemplated by the Reporting persons with respect to the Issuer, it should be noted that the possible activities of the Reporting persons are subject to change at any time. Except to the extent the foregoing may be deemed a plan or proposal, none of the Reporting Persons has any plans or proposals which relate to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto. The Reporting Persons expressly disclaim beneficial ownership of securities held by any person or entity other than, to the extent of any pecuniary interest therein, the various accounts under the Reporting Persons' management and control. The securities reported herein as being beneficially owned by the Reporting Persons do not include any securities held by other members of Ad Hoc Committee (including but not limited to accounts or entities under its control or under common control with such other members) or any other person or entity other than the various accounts under the Reporting Persons' management and control. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. 1. Exhibit A Joint Filing Agreement dated November 8, 2005, signed by each of the Reporting Persons in order to confirm that this statement is being filed on behalf of each of the Reporting Persons, attached hereto as Exhibit A. SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: November 8, 2005 BLUM CAPITAL PARTNERS, L.P. By: Richard C. Blum & Associates, Inc. its General Partner By: /s/ Gregory D. Hitchan ------------------------------------------------ Name: Gregory D. Hitchan Title: Counsel and Secretary RICHARD C. BLUM & ASSOCIATES, INC. By: /s/ Gregory D. Hitchan ------------------------------------------------ Name: Gregory D. Hitchan Title: Counsel and Secretary BLUM STRATEGIC GP, L.L.C. By: /s/ Gregory D. Hitchan ------------------------------------------------ Name: Gregory D. Hitchan Title: Member and General Counsel BLUM STRATEGIC PARTNERS II, L.P. By: Blum Strategic GP II, L.L.C., Its General Partner By: /s/ Gregory D. Hitchan ------------------------------------------------ Name: Gregory D. Hitchan Title: Member and General Counsel BLUM STRATEGIC GP II, L.L.C. By: /s/ Gregory D. Hitchan ------------------------------------------------ Name: Gregory D. Hitchan Title: Member and General Counsel EXHIBIT INDEX 1. Exhibit A Joint Filing Agreement dated November 8, 2005, signed by each of the Reporting Persons in order to confirm that this statement is being filed on behalf of each of the Reporting Persons, attached hereto as Exhibit A. EXHIBIT A JOINT FILING UNDERTAKING The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13D to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party. Dated as of November 8, 2005 BLUM CAPITAL PARTNERS, L.P. By: Richard C. Blum & Associates, Inc. its General Partner By: /s/ Gregory D. Hitchan ----------------------------------------------- Name: Gregory D. Hitchan Title: Counsel and Secretary RICHARD C. BLUM & ASSOCIATES, INC. By: /s/ Gregory D. Hitcha ----------------------------------------------- Name: Gregory D. Hitchan Title: Counsel and Secretary BLUM STRATEGIC GP, L.L.C. By: /s/ Gregory D. Hitchan ----------------------------------------------- Name: Gregory D. Hitchan Title: Member and General Counsel BLUM STRATEGIC PARTNERS II, L.P. By: Blum Strategic GP II, L.L.C., Its General Partner By: /s/ Gregory D. Hitchan ----------------------------------------------- Name: Gregory D. Hitchan Title: Member and General Counsel BLUM STRATEGIC GP II, L.L.C. By: /s/ Gregory D. Hitchan ----------------------------------------------- Name: Gregory D. Hitchan Title: Member and General Counsel -----END PRIVACY-ENHANCED MESSAGE-----