Earlier this afternoon, CNBC's John Melloy reported that a major JC Penney shareholders was trying to dump 10 million shares of stock at a price range of $16.40 to $16.60. Melloy reports that the seller is Vornado Realty Trust, the company owned by real estate mogul Steve Roth. This is important because Roth was named to JC Penney's Board of Directors in January 2011. Hedge funder Bill Ackman was named to the Board that same day. In Vornado's earnings conference call last week, an analyst as...
JCP Shares Dive After Hours On Report That Investor Is Trying To Dump A HUGE Stake In The Company (JCP)
Business Insider - 5 Mar 2013 03:48
Earlier this afternoon, CNBC's John Melloy reported that a major JC Penney shareholders was trying to dump 10 million shares of stock at a price range of $16.40 to $16.60. Melloy reports that the seller is Vornado Realty Trust, the company owned by real estate mogul Steve Roth. This is important because Roth was named to JC Penney's Board of Directors in January 2011. Hedge funder Bill Ackman was named to the Board that same day. In Vornado's earnings conference call last week, an analyst as...
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