SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
Amendment No. 1
to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
OAK TECHNOLOGY, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.001 PER SHARE
(Title of Class of Securities)
671802106
(CUSIP Number)
RAJ RAJARATNAM
GALLEON ADVISORS, L.L.C.
135 EAST 57TH STREET
NEW YORK, NEW YORK 10022
(212) 371-2809
(Name, address and telephone number of person
authorized to receive notices and communications)
June 26, 1997
(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 Rule 13d-1(d)(e), 13d-1(f) or 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 Rule 13d-7(b)
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 the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for purposes of Section 18 of the Securities Exchange
Act of 1934 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).
Page 1 of 22 Pages
<PAGE>
13D/A1`
CUSIP No. 671802106
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,038,104
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,038,104
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,038,104
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon International Fund, Ltd.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,007,866
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,007,866
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,007,866
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Omni Fund Ltd.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
362,285
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
362,285
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
362,285
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.9%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Polaris Prime Technology, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
150,000
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
150,000
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
150,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.4%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Admirals, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
81,300
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
81,300
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
81,300
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.2%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Management, L.P. (for one managed account)
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
OO
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
212,445
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
212,445
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
212,445
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
0.5%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 22 Pages
<PAGE>
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Management, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF, OO
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,732,596
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,732,596
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,732,596
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 22 Pages
<PAGE>
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Management, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,732,596
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,732,596
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,732,596
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.3%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Advisors, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
1,119,404
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
1,119,404
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,119,404
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
2.7%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Raj Rajaratnam
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
2,852,000
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
2,852,000
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
2,852,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
7.0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 22 Pages
<page
13D/A1
CUSIP No. 671802106
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Gary Rosenbach
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [x]
(b) [ ]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
2,852,000
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
2,852,000
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
2,852,000
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
7.0%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 22 Pages
<PAGE>
This Amendment No. 1 ("Amendment No. 1") amends the statement on Schedule
13D which was filed on January 24, 1997 by the undersigned with respect to the
common stock, $.001 par value per share ("Common Stock") of Oak Technology,
Inc. ("Oak"). The principal executive offices of Oak are located at 139 Kifer
Court, Sunnyvale, CA 94086.
Except as specifically provided herein, this Amendment No. 1 does not
modify any of the information previously reported on Schedule 13D.
* * *
ITEM 2. IDENTITY AND BACKGROUND.
This statement is filed by: (a) Galleon Partners, L.P. ("Domestic
Fund"); (b) Galleon International Fund, Ltd. ("Offshore Fund"); (c) Galleon
Omni Fund Ltd. ("Omni Fund"); (d) Polaris Prime Technology, L.P. ("Polaris"),
(e) Admirals, L.P. ("Admirals"); (f) Galleon Management, L.P. ("Management
LP"), (g) Galleon Management, L.L.C. ("Management LLC"); (h) Galleon Advisors,
L.L.C. ("Advisors"); (i) Raj Rajaratnam ("Rajaratnam"); and (j) Gary Rosenbach
("Rosenbach"). The persons listed in (a) through (j) above are collectively
referred to herein as the "Reporting Persons" and information regarding each
Reporting Person is set forth below.
Domestic Fund is a Delaware limited partnership with its principal place
of business located at 135 East 57th Street, New York, New York 10022. The
principal business of Domestic Fund, a private investment partnership, is to
achieve long-term capital appreciation primarily through investments in equity
securities. Rajaratnam and Rosenbach are the managing members of Advisors,
the general partner of Domestic Fund.
Offshore Fund is a company incorporated under the laws of Bermuda with
its principal place of business located at 6 Front Street, Hamilton HM11,
Bermuda. The principal business of Offshore Fund, a private investment fund,
is to achieve long-term capital appreciation primarily through investments in
equity securities. Management LP is the investment advisor to Offshore Fund.
Management LLC is the general partner of Management LP. Rajaratnam and
Rosenbach are the managing members of Management LLC.
Omni Fund is a company incorporated under the laws of the British Virgin
Islands with its principal place of business located at Charlotte House,
Charlotte Street, P.O. Box N-9204, Nassau, Bahamas. The principal business of
Omni Fund, a private investment fund, is to achieve long-term capital
appreciation primarily through investments in equity securities. Management
LP is the investment advisor to Omni Fund. Management LLC is the general
partner of Management LP. Rajaratnam and Rosenbach are the managing members of
Management LLC.
Polaris is a Delaware limited partnership with its principal place of
business located at 171 Church Street, Suite 330, Charleston, South Carolina
29401. The primary business objective of Polaris, a private investment fund,
is to achieve long-term capital appreciation primarily through investments in
equity securities. Management LP is the investment advisor to Polaris.
Management LLC is the general partner of Management LP. Rajaratnam and
Rosenbach are the managing members of Management LLC.
Page 13 of 22 Pages
<page
Admirals is a Delaware limited partnership with its principal place of
business located at 135 East 57th Street, New York, New York 10022. The
primary business objective of Admirals, a private investment partnership, is
to achieve long-term capital appreciation primarily through investments in
equity securities. Rajaratnam and Rosenbach are the managing members of
Advisors, the general partner of Admirals.
Management LP is a Delaware limited partnership with its principal place
of business located at 135 East 57th Street, New York, New York 10022. The
principal business of Management LP is to provide investment management
services and to serve as investment advisor to Offshore Fund, Omni Fund,
Polaris and one managed account. Management LLC is the general partner of
Management LP. Rajaratnam and Rosenbach are the managing members of
Management LLC.
Management LLC is a Delaware limited liability company with its principal
place of business located at 135 East 57th Street, New York, New York 10022.
The principal business of Management LLC is to serve as the general partner of
Management LP. Rajaratnam and Rosenbach are the managing members of
Management LLC.
Advisors is a Delaware limited liability company with its principal place
of business located at 135 East 57th Street, New York, New York 10022. The
principal business of Advisors is to serve as the general partner of and
provide investment advice to the Domestic Fund and Admirals. Rajaratnam and
Rosenbach are the managing members of Advisors.
Rajaratnam is a U.S. citizen and the managing member of both Management
LLC and Advisors. The principal place of business of Rajaratnam is 135 East
57th Street, New York, NY 10022. Through Advisors and Management LLC,
Rajaratnam has investment discretion for the investment portfolios of Domestic
Fund, Offshore Fund, Omni Fund, Polaris, Admirals and one managed account.
Rosenbach is a U.S. citizen and the managing member of both Management
LLC and Advisors. The principal place of business of Rosenbach is 135 East
57th Street, New York, NY 10022. Through Advisors and Management LLC,
Rosenbach has investment discretion for the investment portfolios of Domestic
Fund, Offshore Fund, Omni Fund, Polaris, Admirals and one managed account.
None of the persons described in this Item 2, during the last five
years, (a) has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (b) was a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
Page 14 of 22 Pages
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate number of shares of Common Stock purchased by each
Reporting Person and the net investment cost of such shares is as follows:
Aggregate Net
Name # of Shares Investment Cost
---- ----------- ---------------
Domestic Fund 1,038,104 $13,324,837
Offshore Fund 1,007,866 $11,689,728
Omni Fund 362,285 $ 4,103,521
Polaris 150,000 $ 1,472,290
Admirals 81,300 $ 734,656
Management LP 212,445 $ 1,926,643
(for one managed account)
The source of the funds used to make the purchases of the Common Stock
was working capital and no part of the purchase price was represented by funds
or other consideration specially borrowed or otherwise specifically obtained
for the purpose of acquiring, holding, trading or voting the securities.
The Common Stock beneficially owned by Domestic Fund, Offshore Fund and
Omni Fund is held in margin accounts at Morgan Stanley & Co., Incorporated,
the Common Stock beneficially owned by Polaris is held in a margin account at
Bear, Stearns & Co., and the Common Stock beneficially owned by Admirals is
held in a margin account at NationsBanc Montgomery Securities LLC, all of
which accounts may, from time to time, have debit balances. Since other
securities are held in such margin accounts, it is not possible to determine
the amount, if any, of margin used with respect to the Common Stock purchased.
Currently, the interest rate charged on the margin accounts at Morgan Stanley
& Co., Incorporated is 6.625% per annum, at Bear, Stearns & Co. is 6.75% per
annum and at NationsBanc Montgomery Securities LLC is 7.04% per annum.
* * *
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate number and percentage of Common Stock beneficially
owned by the Reporting Persons is enumerated below:
Number of Percentage of
Name Common Shares Common Shares
- ---- ------------- -------------
Domestic Fund 1,038,104 2.5%
Offshore Fund 1,007,866 2.5%
Omni Fund 362,285 0.9%
Polaris 150,000 0.4%
Admirals 81,300 0.2%
Management LP
(for one managed account) 212,445 0.5%
The Reporting Persons own in the aggregate 2,852,000 (7.0%) of the outstanding
shares of Common Stock of Oak.
Page 15 of 22 Pages
<PAGE>
The approximate aggregate percentage of shares of Common Stock
beneficially owned by each Reporting Person herein is based on 40,699,264
shares outstanding, which is the total number of shares of Common Stock
outstanding as of March 31, 1997, as reflected in Oak's quarterly report on
Form 10-Q filed with the Securities and Exchange Commission (the "SEC") for
the fiscal quarter ended March 31, 1997 (which as of June 26, 1997 was the
most recent Form 10-Q on file with the SEC).
(b) The power to vote the Common Stock with respect to each Reporting
Person noted in paragraph (a) above is as set forth on the cover sheet for
such Reporting Person.
Management LP does not directly own any of the Common Stock. Management
LP may be deemed to indirectly beneficially own 1,732,596 shares of Common
Stock by virtue of its investment advisory relationships with Offshore Fund,
Omni Fund, Polaris and one managed account pursuant to which Management LP
provides discretionary investment advisory services.
Management LLC does not directly own any of the Common Stock.
Management LLC may be deemed to indirectly beneficially own 1,732,596 shares
of Common Stock by virtue of its position as general partner of Management LP.
Advisors does not directly own any of the Common Stock. Advisors may be
deemed to indirectly beneficially own 1,119,404 shares of Common Stock by
virtue of its position as general partner of Domestic Fund and Admirals.
Rajaratnam does not directly own any of the Common Stock. Rajaratnam may
be deemed to indirectly beneficially own 2,852,000 shares of Common Stock as
managing member of both Advisors and Management LLC.
Rosenbach does not directly own any of the Common Stock. Rosenbach may
be deemed to indirectly beneficially own 2,852,000 shares of Common Stock as
managing member of both Advisors and Management LLC.
(c) The following is a list of transactions during the 60 day period
prior to and including June 26, 1997 involving the Common Stock of Oak by the
Reporting Persons named herein.
No. of Shares
Name Date purchased/(sold) Price/Share
- ---- ---- ---------------- -----------
Domestic Fund 4/24/97 13,350 $ 8.5000
5/01/97 (6,375) 8.0000
5/06/97 3,018 9.8979
5/06/97 1,275 9.8958
5/06/97 (425) 9.7500
5/07/97 850 9.7063
5/09/97 298 9.3750
5/13/97 213 9.4375
Page 16 of 22 Pages
<page
5/16/97 1,063 8.7500
5/19/97 425 9.0000
5/21/97 213 9.1750
5/27/97 8,500 8.6872
5/29/97 1,743 9.5030
5/29/97 (7,140) 9.6875
5/29/97 (65,833) 9.4838
5/30/97 893 9.3929
5/30/97 10,625 9.3750
5/30/97 (2,125) 9.3750
6/06/97 1,975 9.2500
6/06/97 (5,925) 9.4375
6/16/97 1,496 9.2060
6/16/97 6,800 9.1875
6/25/97 8,500 8.8750
Offshore Fund 4/24/97 12,900 $ 8.5000
5/1/97 (6,900) 8.0000
5/6/97 3,266 9.8979
5/6/97 1,380 9.8958
5/6/97 (460) 9.7500
5/7/97 920 9.7063
5/9/97 322 9.3750
5/13/97 230 9.4375
5/16/97 1,150 8.7500
5/19/97 460 9.0000
5/21/97 230 9.1750
5/27/97 9,200 8.6872
5/29/97 1,886 9.5030
5/29/97 (7,728) 9.6875
5/29/97 (71,254) 9.4838
5/30/97 966 9.3929
5/30/97 11,500 9.3750
5/30/97 (2,300) 9.3750
6/6/97 2,450 9.2500
6/6/97 (7,350) 9.4375
6/16/97 1,738 9.2060
6/16/97 7,900 9.1875
6/25/97 9,875 8.8750
Page 17 of 22 Pages
<PAGE>
Omni Fund 4/24/97 3,750 $ 8.5000
5/1/97 (1,725) 8.0000
5/6/97 816 9.8979
5/6/97 345 9.8958
5/6/97 (115) 9.7500
5/7/97 230 9.7063
5/9/97 80 9.3750
5/13/97 57 9.4375
5/16/97 287 8.7500
5/19/97 115 9.0000
5/21/97 57 9.1750
5/27/97 2,300 8.6872
5/29/97 471 9.5030
5/29/97 (1,932) 9.6875
5/29/97 (17,813) 9.4839
5/30/97 241 9.3929
5/30/97 2,875 9.3750
5/30/97 (575) 9.3750
6/6/97 575 9.2500
6/6/97 (1,725) 9.4375
6/16/97 396 9.2060
6/16/97 1,800 9.1875
6/25/97 2,250 8.8750
Polaris none none none
Admirals 5/15/97 6,000 $ 8.8733
5/19/97 7,100 8.8534
5/27/97 1,700 8.5400
5/28/97 500 8.7275
5/28/97 5,000 8.9975
5/28/97 10,000 8.7500
Management LP 6/16/97 770 9.2060
(for one managed 6/16/97 3,500 9.1875
account) 6/16/97 10,000 8.9375
6/17/97 5,100 9.2819
6/17/97 10,000 9.0313
6/18/97 8,800 9.1250
6/18/97 14,700 9.1250
6/19/97 7,000 9.4196
6/19/97 8,000 9.4297
6/19/97 15,000 9.4896
6/20/97 7,500 9.4375
6/20/97 15,000 9.4375
6/25/97 4,375 9.8750
The Common Stock transactions noted above were executed by the Reporting
Persons in the over-the-counter market through brokerage transactions in the
ordinary course of business.
(d) Except as set forth above, no other person is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
(e) Not applicable.
Page 18 of 22 Pages
<PAGE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 hereof and between such
persons or any person with respect to any securities of the issuer, including
but not limited to transfer or voting of any Common Stock, finder's fees,
joint ventures, loan or option arrangements, puts or calls, guarantees of
profits, division of profits or loss, or the giving or withholding of proxies.
* * *
Page 19 of 22 Pages
<page
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
DATED: June 12, 1998 GALLEON PARTNERS, L.P.
By: Galleon Advisors, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
GALLEON INTERNATIONAL FUND, LTD.
By: Galleon Management, L.P.
Management Company
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
GALLEON OMNI FUND LTD.
By: Galleon Management, L.P.
Management Company
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
Page 20 of 22 Pages
<PAGE>
POLARIS PRIME TECHNOLOGY, L.P.
By: Galleon Management, L.P.
Management Company
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
___________________________
Raj Rajaratnam
Managing Member
ADMIRALS, L.P.
By: Galleon Advisors, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
___________________________
Raj Rajaratnam
Managing Member
GALLEON MANAGEMENT, L.P.
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
Page 21 of 22 Pages
<PAGE>
GALLEON MANAGEMENT, L.L.C.
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
GALLEON ADVISORS, L.L.C.
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
Managing Member
RAJ RAJARATNAM
By: /s/ Raj Rajaratnam
_____________________________
Raj Rajaratnam
GARY ROSENBACH
By: /s/ Gary Rosenbach
_____________________________
Gary Rosenbach
Page 22 of 22 Pages
<PAGE>
