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Singer's Elliott takes new stake in LogMeIn


New stake: The hedge fund run by billionaire Paul Singer held a 2.4 position in Boston-based LogMeIn as of Sept. 30. — Bloomberg

New stake: The hedge fund run by billionaire Paul Singer held a 2.4 position in Boston-based LogMeIn as of Sept. 30. — Bloomberg

NEW YORK: Elliott Management Corp disclosed that it has again taken a stake in the software company LogMeIn Inc, whose shares have tumbled 28% this year.

The hedge fund run by billionaire Paul Singer held a 2.4% position in Boston-based LogMeIn as of Sept. 30, according to a regulatory filing on Wednesday. LogMeIn’s shares plunged in July after it reduced its guidance for the year, amid a series of execution issues that it said its competitors had taken advantage of.

Corporate News , Singer , stake , drop

   

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