According to a filing with the US Securities and Exchange Commission (SEC) the group of investors believed Creo was underachieving and they disagreed with the firm's strategy.

As a result they have lost confidence in the board of directors and seek their resignation or removal as soon as possible. On replacement of the board they will seek the resignation or dismissal of Michelson and his replacement by Burton.

According to a report in Canadian newspaper the Globe and Mail analyst Jeff Rath of Canaccord Capital put the dissidents' chance of success as very high.

Burton was formerly chairman and president of US print group Moore and before that World Color Press, which was sold to Quebecor in 1999. 

The group of investors led by Burton holds 6% of Creo's shares.

Creo is expected to release a statement later today. Check www.printweek.com for updates.

Story by Barney Cox