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Note 18 - Shareholder Activism
12 Months Ended
Jun. 30, 2013
Shareholder Activism [Abstract]  
Shareholder Activism [Text Block]

Note 18 – Shareholder Activism


On June 28, 2013, at the Annual Shareholders’ Meeting, as a result of a proxy contest initiated by BKF Capital Group, Inc, (“BKF”), an owner of 18.3% of the stock of Qualstar, the entire Board of Qualstar was replaced by five nominees of BKF. Qualstar incurred costs of $1.0 million during the fiscal year on legal counsel, financial advisors and proxy solicitors in connection with this matter.


Subsequently, on August 19, 2013, the new Board approved reimbursement of $356,000 to BKF for fees it incurred during the proxy contest. These costs are recognized in August 2013.