SiliconBeat

Poor, poor PDL BioPharma (ticker: PDLI). As we’ve blogged about in recent weeks, the company’s CEO stepped down under pressure from Third Point, one of its largest shareholders. And while Third Point still has concerns,  it’s also been reducing its holdings in recent weeks.

But here comes a new antagonist. On Wednesday, Highland Capital Management, a Dallas-based fund, filed a schedule 13-D disclosing that it’s been gobbling up PDL stock in recent weeks and now owns 6. 1 million shares that cost about $145 million, giving it control of 5.2 percent of the company.

The filing also disclosed a letter the firm sent to PDL’s board stating several requests. Chief among those: They want Dr. Patrick Gage to resign as Chairman of the Board of Directors. Gage just took over as interim CEO following the resignation of former CEO Mark McDade.

The letter is dated Sept. 25. Apparently it’s just being released now because Highland has increased its stake above 5 percent. So we’ll see how Gage handle’s a two-front assault from Highland and Three Point.