Penn Traffic investor reports sale of 100,000 shares

By Lisa Kerner

Charlotte, N.C., Feb. 17 - CR Intrinsic Investors, LLC reported the sale of 100,000 shares of Penn Traffic Co. on Feb. 12 for $0.80 each in a schedule 13D/A filed with the Securities and Exchange Commission.

The investor beneficially owns 629,569 shares or 7.2% of the Syracuse, N.Y.-based food distributor.

In October, CR Intrinsic announced it may discuss the company's business with management, board members or other Penn Traffic shareholders "in light of industry transactions that continue to take place within the issuer's geographical footprint," according to a prior SEC filing.

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