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Stocks P / Peregrine Systems Inc.
|Subject: What, if anything, does this mean?||Date: 6/6/2002 8:28 PM|
|Author: hnderson||Number: 708 of 725|
Today's Reuter's story:
Is this important news?
June 06, 2002 14:16:30 (ET)
PALO ALTO, Calif., June 6 (Reuters) - A small group of investors has taken an 11.45 percent
stake in troubled software maker Peregrine Systems Inc.(PRGN,Trade), according to a filing
made with the U.S. Securities and Exchange Commission on Thursday.
St. Helena, California-based private investor Mark Nelson, along with Dana Johnson and the
Sine Nomine Foundation, purchased 22.04 million shares of Peregrine's common stock
between May 6 and June 4 for "general investment purposes, with no intent to alter the
management of the Issuer," according to the filing.
Several of the top corporate officers at San Diego-based Peregrine resigned earlier this week,
amid a federal regulatory probe into the software shop's accounting.
The company -- which sells software to help companies track their physical assets -- has seen
its stock fall from a year-high of $33.55 to a low of 73 cents.
Peregrine shares were down nearly 20 percent at $1.18 in Thursday afternoon trade on
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