News Column

BRIEF: Morgan Stanley sells off entire Potbelly stake: filing

August 8, 2014

By Jessica Wohl, Chicago Tribune



Aug. 08--Morgan Stanley's investment management arm appears to have sold all of its shares of Potbelly Corp., according to a filing with U.S. regulators on Friday.

At the end of March, Morgan Stanley Investment Management Inc. held more than 2.7 million Potbelly shares, giving it a stake of about 9.3 percent in the company, according to Bloomberg data.

In a filing on Friday, Morgan Stanley said it held zero shares.

Representatives for Chicago-based Potbelly could not be immediately reached for comment. Morgan Stanley declined to comment on Friday morning.

Separately, Potbelly announced the addition of Ann-Marie Campbell, president of Home Depot's southern division, to its board of directors.

Campbell is the third member added to the board this year, following the appointment of Dermalogica CEO Dan Ginsberg in February and Susan Chapman-Hughes, a senior vice president at American Express Co., in May.

Potbelly earlier this week released disappointing second-quarter results and slashed its expectations for the year.

After a quick decline earlier in the day, the stock recovered to end up 8 cents at $12.28.

jwohl@tribune.com

Follow @JessicaWohl -- Follow @chibreakingbiz

___

(c)2014 Chicago Tribune

Visit the Chicago Tribune at www.chicagotribune.com

Distributed by MCT Information Services


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: Chicago Tribune (IL)


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters