Strategic Turnaround urges Comforce to consider alternatives

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Comforce Corp. shareholder Strategic Turnaround Equity Partners, LP (Cayman) expressed its frustration with the price of the company's stock in a Dec. 10 letter to Comforce chairman John Fanning.

The letter was included in a schedule13D filing with the Securities and Exchange Commission.

Strategic Turnaround, with a 5.8% stake in Comforce, urged the board to explore strategic alternatives to create shareholder value, including a sale of the company, asset dispositions or a share buyback program.

"While the company had a good third quarter, we were surprised that as undervalued as your stock is, that no members of the board of directors or the top management of the company purchased shares of the company's stock," the letter stated.

Comforce is a Woodbury, N.Y.-based staffing company.

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