Calamos (CLMS) Shares Move Higher as Alpine Boosts Stake to 5.09%, Urges Changes to Board

July 27, 2012 2:15 PM EDT
Shares of Calamos Asset Management, Inc. (NASDAQ: CLMS) are up more than 1.5 percent at last check following the mid-day filing of a 13D with the SEC from hedge fund Alpine Investment Management, LLC. The fund is now showing a 5.09%, or 1,035,603 share, stake in the company. This is up 24.05% from the 834,812 shares held at the end of the latest quarter ending March 31, 2012.

In the SEC filing, Alpine called the management of Calamos' Board ineffective and urged holders to insist on placing a "truly independent Board member."

For more notable holders of Calamos Asset Management, Inc. stock click here.

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