3Com Corporation (NDAQ:COMS) shares rose $0.24, or 5.7%, to $4.45 after Kenneth Griffin's Citadel LP disclosed an 8.4% stake in the company and expressed his concerns with the company's management team.

The hedge fund manager pointed out in his letter that 3Com's share price has under-performed both relative and absolute measures of shareholder return for many years. More recently, the market's reaction to 3Com's purchase of Huawei Technologies' 49% ownership in H3C has resulted in nearly a 20% decline in share price. Clearly change is needed!

Kenneth believes that many options exist today for the creation of substantial value for 3Com shareholders and insisted that he be able to meet with the management team and board of directors to discuss their corporate strategy going forward. While there was no clear indication of what "options" are being considered to create "substantial" value, many investors are confident that the shareholder will be able to help the company.

Citadel is one of the largest and most successful hedge funds in the world. Its manager, Kenneth Griffin, is a self-made billionaire and extraordinary individual. He founded Citadel in 1990 with just $4.2 million and grew it into the $13.4 billion fund that we know today. The majority of the firms profits come from active trading (its daily trading volume is estimated to amount to 3% of the activity in New York and Tokyo!) but it is carefully moving into more fundamental and activist plays like this one.

Combined, these factors make COMS a stock worth following!

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