Subject: File No. S7-20-08
From: G J Cavanagh
Affiliation: investor

July 27, 2008

I am an owner of Avanex Corporation (Nasdaq symbol: AVNX)shares. I have noticed that for weeks at a time that the shares of Avanex have shown up on the Nasdaq's SHO Threshold list. I became increasingly concerned when 2-3 trading days before July 7th press release announcement that the CEO was terminated, the stock price starting taking unexpected decline.