Unassociated Document
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D. C. 20549
SCHEDULE
13G
(Rule
13-d-102)
(Amendment
No. _)
(Name
of
Issuer)
Common
Stock, no par value
(Title
of
Class of Securities)
51466104
(CUSIP
Number of Class of Securities)
September
29, 2008
(Date
of
Event which Requires Filing of this Statement)
Check
the
appropriate box to designate the rule pursuant to which this
Schedule
is
filed:
o RULE
13d-1(b)
x RULE
13d-1(c)
o RULE
13d-1(d)
1)
Name
of Reporting Person
Wynnefield
Partners Small Cap Value, L.P.
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
Use Only
4)
Citizenship Or Place Of Organization: Delaware
NUMBER
OF
SHARES 5)
Sole
Voting Power:
515,082
Shares
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
515,082
Shares
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
515,082
Shares
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
2.0%
________________________________________________
12)
Type
of Reporting Person (See Instructions) PN
________________________________________________
1)
Name
of Reporting Person
Wynnefield
Partners Small Cap Value, L.P. I
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: Delaware
NUMBER
OF
SHARES 5)
Sole
Voting Power:
736,740
Shares
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
736,740
Shares
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
736,740
Shares
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
2.9%
________________________________________________
12)
Type
of Reporting Person (See Instructions) PN
________________________________________________
1)
Name
of Reporting Person
Wynnefield
Small Cap Value Offshore Fund, Ltd.
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: Cayman Islands
NUMBER
OF
SHARES 5)
Sole
Voting Power:
460,875
Shares
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
460,875
Shares
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
460,875
Shares
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
1.8%
________________________________________________
12)
Type
of Reporting Person (See Instructions) CO
________________________________________________
1)
Name
of Reporting Person
Channel
Partnership II, L.P.
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: New York
NUMBER
OF
SHARES 5)
Sole
Voting Power:
10,000
Shares
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
10,000
Shares
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
10,000
Shares
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
0.1%
________________________________________________
12)
Type
of Reporting Person (See Instructions) PN
________________________________________________
CUSIP
NO.
51466104
1)
Name
of Reporting Person
Wynnefield
Capital, Inc. Profit Sharing Plan
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: Delaware
NUMBER
OF
SHARES 5)
Sole
Voting Power:
10,561
Shares
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
10,561
Shares
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
10,561
Shares
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
0.1%
________________________________________________
12)
Type
of Reporting Person (See Instructions) CO
________________________________________________
CUSIP
NO.
51466104
1)
Name
of Reporting Person
Wynnefield
Capital Management, LLC
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: New York
NUMBER
OF
SHARES 5)
Sole
Voting Power:
1,251,822
Shares (1)
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
1,251,822
Shares (1)
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
1,251,822
Shares (1)
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
4.8%
(1)
________________________________________________
12)
Type
of Reporting Person (See Instructions) OO (Limited Liability
Company)
______________________________________________________________
(1)
Wynnefield Capital Management, LLC holds an indirect beneficial interest in
these shares which are directly beneficially owned by Wynnefield Partners Small
Cap Value, L.P. and Wynnefield Partners Small Cap Value, L.P.
I.
1)
Name
of Reporting Person
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: Cayman Islands
NUMBER
OF
SHARES 5)
Sole
Voting Power:
460,875
Shares (1)
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
460,875
Shares (1)
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
460,875
Shares (1)
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
1.8%
(1)
________________________________________________
12)
Type
of Reporting Person (See Instructions) CO
________________________________________________
(1)
Wynnefield Capital, Inc. holds an indirect beneficial interest in these shares
which are directly beneficially owned by Wynnefield Small Cap Value Offshore
Fund, Ltd.
CUSIP
NO.
51466104
1)
Name
of Reporting Person
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: United States
NUMBER
OF
SHARES 5)
Sole
Voting Power:
1,733,258
Shares (1)
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
1,733,258
Shares (1)
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
1,733,258
Shares (1)
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
6.7%
(1)
________________________________________________
12)
Type
of Reporting Person (See Instructions) IN
________________________________________________
(1) Mr.
Obus
may be deemed to hold an indirect beneficial interest in these shares, which
are
directly beneficially owned by Wynnefield Partners Small Cap Value, L.P.,
Wynnefield Partners Small Cap Value, L.P. I, Wynnefield Small Cap Value Offshore
Fund, Ltd., Channel Partnership II, L.P. and Wynnefield Capital, Inc. Profit
Sharing Plan, because he is a co-managing member of Wynnefield Capital
Management, LLC, a principal executive officer of Wynnefield Capital, Inc.
(the
investment manager of Wynnefield Small Cap Value Offshore Fund, Ltd.), the
general partner of Channel Partnership II, L.P. and the portfolio manager of
Wynnefield Capital, Inc. Profit Sharing Plan. The filing of this Statement
and
any future amendment
by Mr. Obus, and the inclusion of information herein and therein with respect
to
Mr. Obus, shall not be considered an admission that he, for the purpose of
Section 16(b) of the Exchange Act, is the beneficial owner of any shares in
which he does not have a pecuniary interest. Mr. Obus disclaims any beneficial
ownership of the shares of Common Stock covered by this
Statement.
CUSIP
NO.
51466104
1)
Name
of Reporting Person
2)
Check
The Appropriate Box If A Member Of A Group (See Instructions)
(a)
(b)x
Reporting person is
affiliated with other persons
3)
SEC
USE ONLY
4)
Citizenship Or Place Of Organization: United States
NUMBER
OF
SHARES 5)
Sole
Voting Power:
1,712,697
Shares (1)
BENEFICIALLY
OWNED _______________________________________________
BY
EACH
REPORTING 6)
Shared
Voting Power
PERSON
WITH ________________________________________________
7)
Sole Dispositive Power:
1,712,697
Shares (1)
________________________________________________
8) Shared Dispositive Power
________________________________________________
9)
Aggregate Amount Beneficially Owned By Each Reporting Person:
1,712,697
Shares (1)
________________________________________________
10)
Check
Box If The Aggregate Amount In Row (9) Excludes Certain Shares o
(See
Instructions)
________________________________________________
11)
Percent of Class Represented by Amount in Row (9):
6.6%
(1)
________________________________________________
12)
Type
of Reporting Person (See Instructions) IN
________________________________________________
(1)
Mr.
Landes may be deemed to hold an indirect beneficial interest in these shares,
which are directly beneficially owned by Wynnefield Partners Small Cap Value,
L.P., Wynnefield Partners Small Cap Value, L.P. I, and Wynnefield Small Cap
Value Offshore Fund, Ltd., because he is a co-managing member of Wynnefield
Capital Management, LLC and a principal executive officer of Wynnefield Capital,
Inc. (the investment manager of Wynnefield Small Cap Value Offshore Fund, Ltd.).
The filing of this Statement and any future amendment by Mr. Landes, and the
inclusion of information herein and therein with respect to Mr. Landes, shall
not be considered an admission that he, for the purpose of Section 16(b) of
the
Exchange
Act, is the beneficial owner of any shares in which he does not have a pecuniary
interest. Mr. Landes disclaims any beneficial ownership of the shares of Common
Stock covered by this Statement.
ITEM
1(a). Name of Issuer:
Landec
Corporation
---------------------------------------------------------------------
ITEM
1(b). Address of Issuer's Principal Executive Offices:
3603
Haven Avenue
Menlo
Park, California 94025
---------------------------------------------------------------------
ITEM
2(a). Names of Persons Filing:
Wynnefield
Partners Small Cap Value, L.P. ("Partners")
-------------------------------------------------------------------
Wynnefield
Partners Small Cap Value, L.P. I ("Partners I")
-------------------------------------------------------------------
Wynnefield
Small Cap Value Offshore Fund, Ltd. ("Fund")
-------------------------------------------------------------------
Channel
Partnership II, L.P. ("Channel")
-------------------------------------------------------------------
Wynnefield
Capital, Inc. Profit Sharing Plan (the "Plan")
-------------------------------------------------------------------
Wynnefield
Capital Management, LLC ("WCM")
-------------------------------------------------------------------
Wynnefield
Capital, Inc. ("WCI")
-------------------------------------------------------------------
Nelson
Obus
-------------------------------------------------------------------
Joshua
Landes
-------------------------------------------------------------------
ITEM
2(b). Address of Principal Business Office Or, If None, Residence:
450
Seventh Avenue, Suite 509, New York, New York 10123
-------------------------------------------------------------------
ITEM
2(c). Citizenship:
Partners
and Partners I are Delaware limited partnerships.
-------------------------------------------------------------------
Fund
and
WCI are Cayman Islands companies.
-------------------------------------------------------------------
WCM
is a
New York limited liability company.
-------------------------------------------------------------------
Channel
is a New York limited partnership.
-------------------------------------------------------------------
The
Plan
is a Delaware corporation.
-------------------------------------------------------------------
Mr.
Obus
is a United States citizen
-------------------------------------------------------------------
Mr.
Landes is a United States citizen
-------------------------------------------------------------------
ITEM
2(d). Title of Class of Securities:
Common
Stock, $0.001 par value
-------------------------------------------------------------------
ITEM
2(e). CUSIP Number: 51466104
ITEM
3.
If this Statement is filed pursuant to Rules 13d-1(b) or 13d-2(b) or (c), check
whether the person filing is:
o Broker
or dealer
registered under Section 15 of the Act.
o Bank
as defined in Section 3(a)(6)
of the Act.
o Insurance
company as defined in
Section 3(a)(19) of the Act.
o Investment
company registered under
Section 8 of the Investment Company Act of 1940.
o An
investment adviser in accordance
with Rule 13d-1(b)(1)(ii)(E);
o An
employee benefit plan or
endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
o A
parent holding company or control
person in accordance with Rule 13d-1(b)(1)(ii)(G);
o A
savings associations as defined
in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C.
1813);
o A
church plan that is excluded from
the definition of an investment company under section 3(c)(14) of the Investment
Company Act of 1940;
o Group,
in accordance with Rule
13d-1(b)(1)(ii)(J).
This
statement is filed pursuant to Rule 13d-1(c).
ITEM
4.
Ownership:
(a)
Amount beneficially owned by all reporting persons: 1,733,258
Shares
(b)
Percent of class: 6.7% of Common Stock.
(c)
Number of shares as to which the reporting persons have:
(i)
sole
power to vote or to direct the vote:
1,733,258
Shares
(ii)
shared power to vote or to direct the vote:
(iii)
sole power to dispose or to direct the disposition:
1,733,258
Shares
(iv)
shared power to dispose or to direct the disposition:
ITEM
5.
Ownership of five percent or less of a class.
Not
applicable.
ITEM
6.
Ownership of more than five percent on behalf of another person.
Not
applicable.
ITEM
7.
Identification and classification of the subsidiary which acquired the security
being reported on by the parent holding company.
Not
applicable.
ITEM
8.
Identification and classification of members of the group.
See
Item
2 (a) - (c).
ITEM
9.
Notice of dissolution of group.
Not
applicable.
ITEM
10.
Certifications.
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were not acquired and are not held for the purpose
of or with the effect of changing or influencing the control of the issuer
of
the securities and were not acquired and are not held in connection or as a
participant in any transaction having that purpose or effect.
Dated:
October 8, 2008
WYNNEFIELD
PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield
Capital Management, LLC, General Partner
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield
Capital Management, LLC, General Partner
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield
Capital, Inc.
By:
/s/
Nelson Obus
Nelson
Obus, President
CHANNEL
PARTNERSHIP II, L.P.
By:
/s/
Nelson Obus
Nelson
Obus, General Partner
WYNNEFIELD
CAPITAL MANAGEMENT, LLC
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
CAPITAL, INC.
By:
/s/
Nelson Obus
Nelson
Obus, President
WYNNEFIELD
CAPITAL, INC. PROFIT SHARING PLAN
By
/s/
Nelson Obus
Nelson
Obus, Portfolio Manager
/s/
Nelson Obus
Nelson
Obus, Individually
/s/
Joshua Landes
Joshua
Landes, Individually
AGREEMENT
OF JOINT FILING
Pursuant
to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended,
the
undersigned hereby consent to the joint filing on their behalf of a single
Schedule 13G and any amendments thereto, with respect to the beneficial
ownership by each of the undersigned of shares of common stock, no par value,
of
Landec Corporation, a California corporation. The undersigned hereby further
agree that this statement may be executed in any number of counterparts,
each of
which when so executed shall be deemed to be an original, but all of which
counterparts shall together constitute one and the same instrument.
Dated:
October 8, 2008
WYNNEFIELD
PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield
Capital Management, LLC, General Partner
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield
Capital Management, LLC, General Partner
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield
Capital, Inc.
By:
/s/
Nelson Obus
Nelson
Obus, President
CHANNEL
PARTNERSHIP II, L.P.
By:
/s/
Nelson Obus
Nelson
Obus, General Partner
WYNNEFIELD
CAPITAL MANAGEMENT, LLC
By:
/s/
Nelson Obus
Nelson
Obus, Co-Managing Member
WYNNEFIELD
CAPITAL, INC.
By:
/s/
Nelson Obus
Nelson
Obus, President
WYNNEFIELD
CAPITAL, INC. PROFIT SHARING PLAN
By
/s/
Nelson Obus
Nelson
Obus, Portfolio Manager
/s/
Nelson Obus
Nelson
Obus, Individually
/s/
Joshua Landes
Joshua
Landes, Individually