Jeff Bronchick’s Cove Street Capital spent more than $2 per share of Westell Technologies Inc (NASDAQ:WSTL) and launched an activist campaign. Cove Street is one of 140 activist hedge funds tracked by Insider Monkey. Last month Cove Street Capital started to sell some of its holdings. Overall, CSC sold slightly more than 90K shares, but its loss was more than 50% over the life of this investment. Luckily, this was only a $15 million bet for them.
The details of the transaction can be seen below.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Cove Street Capital | 5,989,711 | 1,122,953 | 5,989,711 | 1,122,953 | 7,112,664 | 14.89% |
Follow Jeffrey Bronchick's Cove Street Capital
Page 1 of 4 – SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
Westell Technologies Inc
(Name of Issuer)
Common Stock Class A, $.01 par value
(Title of Class of Securities)
957541105
(CUSIP Number)
Daniele Beasley
Cove Street Capital LLC
2101 E. El Segundo Boulevard, Suite 302
El Segundo, CA 90245
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 2017
(Date of Event which Requires Filing of this Statement)
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 §§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 §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.
* This Amendment No. 4 (“Amendment No. 4”) dated February 28,
2017 amends and supplements Amendment No. 3 (“Amendment No. 3”) dated September 22, 2016, which amends and
supplements Amendment No. 2 (“Amendment No. 1”) which amends and supplements the Amendment No 1 (“Amendment
No. 1) statement on Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on August 11, 2016
with respect to Common Stock Class A, $.01 par value (“Common Stock”) of Westell Technologies Inc, (the
“Issuer”). Capitalized terms used herein and not otherwise defined in this Amendment No. 1 have the meanings set
forth in the Schedule 13D
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).
