Citadel reports sale of more than 5 million shares of E*Trade

By Lisa Kerner

Charlotte, N.C., Oct. 5 - Citadel Investment Group, LLC sold 5,100,021 shares of E*Trade Financial Corp. common stock between Oct. 8 and Oct. 13 priced from $1.69 to $1.71 each, according to a schedule 13D/A filed with the Securities and Exchange Commission on Tuesday.

Between Sept. 30 and Oct. 2, Citadel sold 25,439,800 shares, a prior SEC filing said.

The investor beneficially owns 185,119,423 shares, or 9.9%, of the New York financial services company.

As previously reported, Citadel affiliate Citadel Equity Fund, Ltd. terminated the Aug. 11 rule 10b5-1 trading plan it entered into in connection with its E*Trade holdings.

The plan provided for the sale of up to 120 million E*Trade shares, or about 10% of Citadel's holdings on an as-converted basis, for at least $1.20 per share.

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