CPI investor Ramius sells 93,000 shares, keeps 18.3% ownership stake

By Lisa Kerner

Charlotte, N.C., Sept. 24 - Ramius LLC sold 93,000 shares of CPI Corp. between Sept. 10 and Sept. 23 priced from $13.20 to $14.55 each, according to a schedule 13D/A filed on Thursday with the Securities and Exchange Commission.

Between Sept. 1 and Sept. 9, Ramius sold 75,556 shares and kept a 19.6% stake, a prior SEC filing said.

The investor beneficially owns 1,279,603 shares, or 18.3%, of the St. Louis-based portrait studio operator.

In July, CPI shareholders voted to elect all six of the company's director nominees and rejected Ramius' two nominees.

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