Thursday, April 05, 2007

Pirate Capital Liquidates Entire Stake in Cornell Companies (CRN)

In an amended 13D filing after the close on Cornell Companies, Inc. (NYSE: CRN), Pirate Capital disclosed they liquidated their entire stake in the company. A 03/29 13D/A filing showed an 8.9% stake, which was down from 16.5%.

On March 5, 2007, Thomas R. Hudson Jr., the Manager of Pirate Capital, resigned as a member of the Board of Directors of the company.

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