INNOVATE Corp. — Director's Dealing 2010

Nov 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PRIMUS TELECOMMUNICATIONS GROUP INC (PMUG.OB)
CIK: 0001006837
Period of Report: 2010-08-12

Reporting Person: MORGENS WATERFALL VINTIADIS & CO INC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-11-03	Common Stock $0.001 par value ("Common Stock")	S	500	$9.25	Disposed	899500	Indirect
2010-11-04	Common Stock	S	500	$9.25	Disposed	899000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-08-12	Warrants (Rights to Purchase)	$16.53	S	3900	Disposed	2014-07-01	Common Stock (3900)	Indirect

Footnotes

F1: Morgens, Waterfall, Vintiadis & Company, Inc. ("Morgens Waterfall") serves as the investment adviser to, and provides discretionary investment advisory services to, certain private investment funds. Edwin H. Morgens is the Chairman of Morgens Waterfall.