-----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, G+Q7Es6k3Bs51fcFrsEqbUjaQuUOp72IKU8Hzssp/DzcUfP0kd06Gov9k6m81S6W 1l1IhCxo9VuXJefgceoGZA== 0001116502-06-001066.txt : 20060518 0001116502-06-001066.hdr.sgml : 20060518 20060517194344 ACCESSION NUMBER: 0001116502-06-001066 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060518 DATE AS OF CHANGE: 20060517 GROUP MEMBERS: BRYANT R RILEY GROUP MEMBERS: RILEY INVESTMENT MANAGEMENT, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IOMEGA CORP CENTRAL INDEX KEY: 0000352789 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER STORAGE DEVICES [3572] IRS NUMBER: 860385884 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-35972 FILM NUMBER: 06850313 BUSINESS ADDRESS: STREET 1: 10955 VISTA SORRENTO PARKWAY, CITY: SAN DIEGO STATE: CA ZIP: 92130 BUSINESS PHONE: (858) 314-7000 MAIL ADDRESS: STREET 1: 1821 WEST IOMEGA WAY CITY: ROY STATE: UT ZIP: 84067 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SACC PARTNERS LP CENTRAL INDEX KEY: 0001123770 IRS NUMBER: 954799552 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 11150 SANTA MONICA BLVD STREET 2: STE 750 CITY: LOS ANGELES STATE: CA ZIP: 90025 MAIL ADDRESS: STREET 1: 11150 SANTA MONICA BLVD STE 750 CITY: LOS ANGELES STATE: CA ZIP: 90025 SC 13G 1 sc13g.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------------------- OMB APPROVAL --------------------------------- OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response.............11 SCHEDULE 13G Under the Securities and Exchange Act of 1934 (Amendment No. _____)* Iomega Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 462030305 - -------------------------------------------------------------------------------- (CUSIP Number) May 15, 2006 - -------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [_] Rule 13d-1(b) [X] Rule 13d-1(c) [_] Rule 13d-1(d) - ---------- * 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 the disclosures provided in a prior cover page. The information required in 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 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). CUSIP No.__462030305________ 13G Page 1 of 5 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) SACC Partners LP - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 3,379,150 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 3,379,150 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,379,150 - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [-] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.54(1)% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (1) Based on 51,655,698 shares of Common Stock, par value $0.03 1/3 per share, of Iomega Corporation outstanding at May 2, 2006, as reported in Iomega Corporation's Quarterly Report on Form 10-Q for the quarter ended April 2, 2006 filed with the Securities and Exchange Commission on May 12, 2006. CUSIP No.__462030305________ 13G Page 2 of 5 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Riley Investment Management, LLC - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 3,379,150 ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 3,379,150 ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,379,150(2) - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [-] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 6.54(3)% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (2) Because Riley Investment Management LLC has sole investment and dispositive power over the 3,379,150 shares of Iomega Corporation's Common Stock owned of record by SACC Partners LP, Riley Investment Management LLC may be deemed to have beneficial ownership of these shares. (3) Based on 51,655,698 shares of Common Stock, par value $0.03 1/3 per share, of Iomega Corporation outstanding at May 2, 2006, as reported in Iomega Corporation's Quarterly Report on Form 10-Q for the quarter ended April 2, 2006 filed with the Securities and Exchange Commission on May 12, 2006. CUSIP No.__462030305________ 13G Page 3 of 5 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Bryant R Riley - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION California - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES 4,067,998(4) ----------------------------------------------------------------- BENEFICIALLY 6. SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------------- EACH 7. SOLE DISPOSITIVE POWER REPORTING 4,067,998(4) ----------------------------------------------------------------- PERSON 8. SHARED DISPOSITIVE POWER WITH 0 - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,057,998(4) - -------------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [-] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.86(5)% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON* IA - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! (4) Because Riley Investment Management LLC has sole voting and dispositive power over SACC Partners LP's security holdings and Mr. Riley, in his role as the sole manager of Riley Investment Management LLC, controls it voting and investment decisions, each of SACC Partners LP, Riley Investment Management LLC and Mr. Riley may be deemed to have beneficial ownership of the 3,379,150 shares of Iomega's Common Stock owned of record by SACC Partners LP, representing approximately 6.54% of Iomega's outstanding Common Stock. Because Mr. Riley has sole voting and dispositive power over B. Riley & Co., Inc.'s security holdings, both B. Riley & Co., Inc. and Mr. Riley may be deemed to have beneficial ownership of 648,848 shares of Iomega's Common Stock owned of record by B. Riley & Co., Inc., representing approximately 1.26% of Iomega's outstanding Common Stock. Because Mr. Riley has sole voting and dispositive power over B. Riley & Co. Retirement Trust's security holdings, Mr. Riley may be deemed to have beneficial ownership of the 30,000 shares of Iomega's Common Stock owned of record by B. Riley & Co. Retirement Trust, representing approximately 0.06 of Iomega's Common Stock. Mr. Riley disclaims beneficial ownership of 10,000 shares of Iomega's Common Stock owned of record by his children for whose accounts he serves as custodian. Mr. Riley may therefore be deemed to beneficially own a total of 4,057,998 shares of Iomega's Common Stock, representing approximately 7.86% of Iomega's outstanding Common Stock, through his relationships with SACC Partners LP, Riley Investment Management LLC, B. Riley & Co., Inc. and B. Riley & Co. retirement Trust. (5) Based on 51,655,698 shares of Common Stock, par value $0.03 1/3 per share, of Iomega Corporation outstanding at May 2, 2006, as reported in Iomega Corporation's Quarterly Report on Form 10-Q for the quarter ended April 2, 2006 filed with the Securities and Exchange Commission on May 12, 2006. CUSIP No._ 462030305 13G Page 4 of 5 Pages Item 1(a). Name of Issuer: Iomega Corporation -------------------------------------------------------------------- Item 1(b). Address of Issuer's Principal Executive Offices: 10955 Vista Sorrento Parkway San Diego, CA 92130 -------------------------------------------------------------------- Item 2(a). Name of Person Filing: SACC Partners LP; Riley Investment Management LLC; B. Riley & Co. Inc.; B. Riley & Co. Retirement Trust; Bryant R. Riley -------------------------------------------------------------------- Item 2(b). Address of Principal Business Office, or if None, Residence: 11100 Santa Monica Blvd. Suite 800 Los Angeles, CA 90025 -------------------------------------------------------------------- Item 2(c). Citizenship: SACC Partners LP (a Delaware limited partnership) Riley Investment Management LLC (Delaware limited liability co.) B. Riley & Co., Inc. (Delaware corporation) B. Riley & Co. Retirement Trust (tax qualified employee benefit plan) Bryant R. Riley (US Citizen; individual residing in California) -------------------------------------------------------------------- Item 2(d). Title of Class of Securities: Common Stock -------------------------------------------------------------------- Item 2(e). CUSIP Number: 462030305 -------------------------------------------------------------------- Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: (a) [x] Broker or dealer registered under Section 15 of the Exchange Act. (b) [_] Bank as defined in Section 3(a)(6) of the Exchange Act. (c) [_] Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) [_] Investment company registered under Section 8 of the Investment Company Act. (e) [x] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [X] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [_] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [_] A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) [_] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). CUSIP No.__ 462030305 13G Page 5 of 5 Pages Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) SACC Partners LP owns 3,379,150 shares of Iomega's Common Stock. Because Riley Investment Management has sole voting and investment power over SACC Partners LP security holdings and Mr. Riley, in his role as the sole manager of Riley Investment Management LLC, controls its voting and investment decisions, Riley Investment Management LLC and Mr. Riley may be deemed to have beneficial ownership of the 3,379,150 shares owned of record by SACC Partners LP. B. Riley & Co., Inc. owns 648,848 shares of Iomega's Common Stock. Because Mr. Riley has sole voting and investment power over B. Riley & Co., Inc.'s security holdings, Mr. Riley may be deemed to have beneficial ownership of the 648,848 shares owned of record by B. Riley & Co., Inc.. B. Riley & Co. Retirement Trust owns 30,000 shares of Iomega's Common Stock. Because Mr. Riley has sole voting and investment power over B. Riley & Co. Retirement Trust's security holdings, Mr. Riley may be deemed to have beneficial ownership of the 30,000 shares owned of record by B. Riley & Co. Retirement Trust. Mr. Riley's children collectively own 10,000 shares of Iomega's Common Stock. Although, as custodian, Mr. Riley has sole voting and investment power over his children's security holdings, Mr. Riley disclaims beneficial ownership of the 10,000 shares of Iomega's Common Stock owned of record by his children. Mr. Riley may therefore be deemed to beneficially own a total of 4,057,998 shares of Iomega common stock (7.88(6)%) through his relationships with SACC Partners LP, Riley Investment Management, B. Riley & Co. and B. Riley & Co. Retirement Trust, while disclaiming beneficial ownership of another 10,000 shares (0.02(7)%) over which he has voting and disposition power. Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities check the following [ ]. N/A ----------------------------------------------------------------------- Item 6. Ownership of More Than Five Percent on Behalf of Another Person. N/A ----------------------------------------------------------------------- Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. N/A ----------------------------------------------------------------------- Item 8. Identification and Classification of Members of the Group. N/A ----------------------------------------------------------------------- Item 9. Notice of Dissolution of Group. N/A ---------------------------------------------------------------------- Item 10. Certifications. (a) The following certification shall be included if the statement is filed pursuant to Rule 13d-1(b): "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having such purpose or effect." - -------------------------------------------------------------------------------- (6) Based on 51,655,698 shares of Common Stock, par value $0.03 1/3 per share, of Iomega Corporation outstanding at May 2, 2006, as reported in Iomega Corporation's Quarterly Report on Form 10-Q for the quarter ended April 2, 2006 filed with the Securities and Exchange Commission on May 12, 2006. (7) Based on 51,655,698 shares of Common Stock, par value $0.03 1/3 per share, of Iomega Corporation outstanding at May 2, 2006, as reported in Iomega Corporation's Quarterly Report on Form 10-Q for the quarter ended April 2, 2006 filed with the Securities and Exchange Commission on May 12, 2006. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: May 17, 2006 SACC PARTNERS LP By: Riley Investment Management LLC, its General Partner By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley, CEO RILEY INVESTMENT MANAGEMENT LLC By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley, CEO B. RILEY & CO., INC. By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley, Trustee B. RILEY & CO., INC. RETIREMENT TRUST By: /s/ Bryant R. Riley -------------------------------- Bryant R. Riley By: /s/ Bryant R. Riley -------------------------------- Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties for whom copies are to be sent. Attention. Intentional misstatements or omissions of fact constitute federal criminal violations (see 18 U.S.C. 1001). -----END PRIVACY-ENHANCED MESSAGE-----