Kanders cuts interest in Federal Signal to 3.7%

By Lisa Kerner

Charlotte, N.C., Sept. 24 - Warren B. Kanders sold 815,300 shares of Federal Signal Corp. between Sept. 19 and Sept. 23 at prices from $14.001 to $15.378 each.

With the sale, Kanders' ownership of Federal Signal drops to 3.7%, from 5.7% on Aug. 25, according to a schedule 13D filed with the Securities and Exchange Commission.

In August, Federal Signal said despite Kanders' claims, its investigation did not yield any evidence to support alleged violations of securities laws.

It was previously reported that Kanders has also called for the resignation of Federal Signal chairman Jim Janning. Kanders at one time was a candidate for the company's chief executive officer position, a prior news release said.

Kanders beneficially owns 1,755,254 shares of Federal Signal, an Oak Brook, Ill.-based company focused on security technology and industrial tooling.

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