InterMune (ITMN) Shares Clobbered as Largest Holder 'Actively Considering' Reducing Stake
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Shares of InterMune (Nasdaq: ITMN) are getting whacked Tuesday following a concerning SEC filing from the company's largest shareholder, Warburg Pincus, earlier.
The fund, which currently holds nearly 9.49 million shares (a 16.07 percent stake) of InterMune, disclosed "Investors are actively considering a sale or other disposition of all or a significant portion" of their holdings, possibly as early as the second quarter of this year.
InterMune shares were down as much as 15 percent earlier, but have now bounced modestly and are down about 11.5 percent to $38.34.
The fund, which currently holds nearly 9.49 million shares (a 16.07 percent stake) of InterMune, disclosed "Investors are actively considering a sale or other disposition of all or a significant portion" of their holdings, possibly as early as the second quarter of this year.
InterMune shares were down as much as 15 percent earlier, but have now bounced modestly and are down about 11.5 percent to $38.34.
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