Solutia investor Harbinger sells shares, keeps 26.9% ownership stake

By Lisa Kerner

Charlotte, N.C., May 28 - A group of Solutia Inc. investors led by Harbinger Capital Partners Master Fund I, Ltd. dropped their interest in the company to 26.9%, from 28%, with the sale of 1,095,378 shares between May 20 and May 27 at prices from $4.96 to $5.82 per share.

The transactions were reported in a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

On April 22 and April 23, Harbinger sold 3,705,500 shares of the company's stock priced from $2.76 to $3.00, a prior SEC filing said.

Harbinger beneficially owns 25,378,142 shares of the St. Louis-based chemical company's outstanding stock.

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