Empire Capital's stake in Kana Software dips below 5%

By Lisa Kerner

Charlotte, N.C., Aug. 22 - A group of Kana Software, Inc. investors led by Empire Capital Partners, LP sold 1,369,445 shares on Aug. 20 and Aug. 21 for a total of $2.04 million.

With the sale, Empire cut its ownership interest to 3.4% from 7.6%, according to a schedule 13D filed with the Securities and Exchange Commission.

Empire stated in the filing that it intends to meet with Kana's management in the near future to discuss why the company's stock is currently undervalued.

The investors beneficially own 1,414,996 shares of the Menlo Park, Calif., customer communication software company's outstanding stock.

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