The Allied Owners Action Fund, managed by Privateer Asset Management of New York, has targeted a second company under its shareholder activism mandate - Comshares of Ann Arbor, Mich. The fund accumulates stakes in companies it believes are undervalued and then rallies shareholders to press management for changes in hopes of increasing the value of the company's stock. The non-diversified Allied Owners Action Fund, which was introduced March 9, announced the new target company on its website June 2.

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