Owl Creek-led investors sell Leap Wireless shares, cut stake to 4.2%

By Angela McDaniels

Tacoma, Wash., July 17 - A group of Leap Wireless International, Inc. investors led by Owl Creek I, LP sold a net 291,300 shares of the company's stock through a series of buy and sell transactions between May 28 and July 16.

The shares were priced from $27.57 to $37.79 each, according to a schedule 13D/A filed with the Securities and Exchange Commission.

The investors beneficially own 3,204,279 shares, or 4.2%, of the San Diego-based wireless services provider.

In April, the investors reported ownership of a 5.7% beneficial interest in the company.

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