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Highland Capital sells 1.86 million shares of PDL BioPharma
By Lisa Kerner
Charlotte, N.C., Aug. 8 - Investors led by Highland Capital Management, LP cut their stake in PDL BioPharma, Inc. to 5.3% from their stake on July 29 of 6.9%, with the sale of 1.86 million shares of the company's stock.
The shares were sold on July 31 and Aug. 6 priced at $11.20 and $11.22 per share, respectively, it was reported in a schedule 13D filing with the Securities and Exchange Commission.
According to a prior SEC filing, the investors sold about 1.51 million shares of the company's stock on July 23 and July 24.
Highland owns 6.34 million shares of the Wilmington, N.C., pharmaceutical company's stock.
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