RE:RE:RE:Mittleman selling more sharesHe has sold 17,500 shares in total since the lock-up agreement. The agreement allows him to sell if he has to pay out one of his investors that is withdrawing money from his hedge fund. The agreement prohibts him from selling:
" . . . except in the context of the termination of management of funds on behalf of managed accounts, in which case any sale, transfer or assignment shall have the objective of maintaining the balance of existing portfolios or returning assets to the beneficiaries of managed accounts . . ." It would be to cover a withdrawal made by one of his customers.
CatamaranFund wrote: Well... He is!