IMMERSION CORP — Major Shareholding Notification 2009

Dec 4, 2009

SC 13D/A 1 sc13da506297074_12042009.htm AMENDMENT NO. 5 TO THE SCHEDULE 13D sc13da506297074_12042009.htm Licensed to: Olshan Document Created using EDGARizer 5.1.3.0 Copyright 1995 - 2009 Thomson Reuters. All rights reserved.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

§ 240.13d-2(a)

(Amendment No. 5) 1

Immersion Corporation

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

452521107

(CUSIP Number)

STEVEN WOLOSKY, ESQ.

OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP

Park Avenue Tower

65 East 55th Street

New York, New York 10022

(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

December 2, 2009

(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.

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1 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.

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 ).

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RAMIUS VALUE AND OPPORTUNITY MASTER FUND LTD | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS WC | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 1,999,214 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 1,999,214 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,999,214 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% | | | 14 | TYPE OF REPORTING PERSON CO | |

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CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RCG PB, LTD | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS WC | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 1,589,470 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 1,589,470 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,589,470 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.7% | | | 14 | TYPE OF REPORTING PERSON OO | |

3

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RAMIUS ENTERPRISE MASTER FUND LTD | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS WC | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN ISLANDS | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 601,316 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 601,316 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 601,316 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% | | | 14 | TYPE OF REPORTING PERSON CO | |

4

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RAMIUS ADVISORS, LLC | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 2,190,786 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 2,190,786 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,190,786 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.8% | | | 14 | TYPE OF REPORTING PERSON OO | |

5

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RCG STARBOARD ADVISORS, LLC | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 1,999,214 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 1,999,214 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,999,214 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.2% | | | 14 | TYPE OF REPORTING PERSON OO | |

6

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON RAMIUS LLC | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 4,190,000 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 4,190,000 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON OO | |

7

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON C4S & CO., L.L.C. | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER 4,190,000 | | | 8 | SHARED VOTING POWER - 0

• | | | 9 | SOLE DISPOSITIVE POWER 4,190,000 | | | 10 | SHARED DISPOSITIVE POWER - 0
• | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON OO | |

8

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON PETER A. COHEN | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0

• | | | 8 | SHARED VOTING POWER 4,190,000 | | | 9 | SOLE DISPOSITIVE POWER - 0
• | | | 10 | SHARED DISPOSITIVE POWER 4,190,000 | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON IN | |

9

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON MORGAN B. STARK | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0

• | | | 8 | SHARED VOTING POWER 4,190,000 | | | 9 | SOLE DISPOSITIVE POWER - 0
• | | | 10 | SHARED DISPOSITIVE POWER 4,190,000 | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON IN | |

10

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON JEFFREY M. SOLOMON | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0

• | | | 8 | SHARED VOTING POWER 4,190,000 | | | 9 | SOLE DISPOSITIVE POWER - 0
• | | | 10 | SHARED DISPOSITIVE POWER 4,190,000 | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON IN | |

11

CUSIP NO. 452521107

| 1 | NAME OF REPORTING PERSON THOMAS W. STRAUSS | | | --- | --- | --- | | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) o (b) o | | 3 | SEC USE ONLY | | | 4 | SOURCE OF FUNDS OO | | | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e) | ¨ | | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION USA | | | NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | 7 | SOLE VOTING POWER - 0

• | | | 8 | SHARED VOTING POWER 4,190,000 | | | 9 | SOLE DISPOSITIVE POWER - 0
• | | | 10 | SHARED DISPOSITIVE POWER 4,190,000 | | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,190,000 | | | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES | o | | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.98% | | | 14 | TYPE OF REPORTING PERSON IN | |

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CUSIP NO. 452521107

The following constitutes Amendment No. 5 to the Schedule 13D filed by the undersigned (“Amendment No. 5”). This Amendment No. 5 amends the Schedule 13D as specifically set forth.

ITEM 2. Identity and Background .

Item 2 is hereby amended to add the following:

The address of the principal office of each of Value and Opportunity Master Fund, Enterprise Master Fund and RCG PB is c/o Citco Fund Services (Cayman Islands) Limited, Regatta Office Park, Windward 1, 2nd Floor, PO Box 31106, Grand Cayman KY1-1205, Cayman Islands.

ITEM 4. Purpose of Transaction.

Item 4 is hereby amended to add the following:

On December 2, 2009, RCG Starboard Advisors delivered a letter to Victor A. Viegas, Interim CEO, and the Board of Directors of the Issuer (the “Board”) highlighting the challenges facing the Issuer and voluntarily offering to join the Board as a shareholder representative. In the letter RCG Starboard Advisors also questioned the Issuer’s decision to proactively seek a reduction of the Board while engaged in discussions with RCG Starboard Advisors and its affiliates (the “Ramius Group”), collectively the Issuer’s largest shareholder, over Board representation. RCG Starboard Advisors expressed its view that if the Board were to proceed with its stated course of reducing the size of the Board, the Board should either seek to declassify the Board or take action to balance the classes of directors so that each class is made up of two directors. Unless such action is taken, only one nominee will up for election at the 2010 annual meeting of shareholders. The letter further stated RCG Starboard Advisors’ firm belief that the new Board structure is highly unconventional and contrary to shareholder interests and that any action taken by the Issuer to allow such a Board structure is a clear indication that if the Ramius Group and the Issuer do not reach agreement on Board composition, the Ramius Group must pursue other means to make the necessary changes to the Board. A copy of the press release issued December 2, 2009 by RCG Starboard Advisors, which contains the full text of the letter, is filed as Exhibit 99.1 hereto and is incorporated herein by reference.

ITEM 7. Material to be Filed as Exhibits.

Item 7 is hereby amended to include the following exhibit:

Exhibit 99.1 Press Release issued December 2, 2009.

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CUSIP NO. 452521107

SIGNATURES

After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated: December 4, 2009

RAMIUS VALUE AND OPPORTUNITY MASTER FUND LTD By: RCG Starboard Advisors, LLC, its investment manager RCG PB, LTD By: Ramius Advisors, LLC, its investment advisor RAMIUS ENTERPRISE MASTER FUND LTD By: Ramius Advisors, LLC, its investment advisor RCG STARBOARD ADVISORS, LLC By: Ramius LLC, its sole member RAMIUS ADVISORS, LLC By: Ramius LLC, its sole member RAMIUS LLC By: C4S & Co., L.L.C., its managing member C4S & CO., L.L.C.

By:
Name:	Jeffrey
M. Solomon
Title:	Authorized
Signatory

| /s/

Jeffrey M. Solomon
JEFFREY
M. SOLOMON
Individually
and as attorney-in-fact for Peter A. Cohen, Morgan B. Stark and Thomas W.
Strauss

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