Monday, May 14, 2007

Loeb's Third Point LLC Discloses 8.2% Stake in DepoMed (DEPO)

In a 13G filing after the close Friday, Daniel Loeb's Third Point LLC disclosed an 8.2% stake in DepoMed Inc. (Nasdaq: DEPO). The firm did not show a stake in DEPO for the quarter ended 12/31/06.

A 13G indicates a "passive" stake, but Loeb is known as a activist investor.

Depomed, Inc., is a specialty pharmaceutical company with two approved products on the market and multiple product candidates in its pipeline.

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