Chapman sells Packeteer shares, decreasing ownership to 4.9%

By Laura Lutz

Des Moines, Oct. 9 - Investors led by Chapman Capital LLC decreased their ownership in Packeteer, Inc. to 4.9% from 7.2%, according to an SC 13D filing with the Securities and Exchange Commission.

Chap-Cap Partners II Master Fund, Ltd. and Chap-Cap Activist Partners Master Fund, Ltd., two affiliates of Chapman, sold 839,358 shares between Oct. 4 and Oct. 9 at prices between $7.73 and $7.85 per share.

The investors now own 1,747,526 shares, down from 2,586,884 shares reported in an SC 13D filing on Oct. 2.

Packeteer is a networking technology company based in Cupertino, Calif.

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