N.Y. Investor Group Boosts Gradco Stake
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A group of New York investors led by Martin E. Tash, chairman of Plenum Publishing Corp., has increased its stock holdings of Irvine-based Gradco Systems Inc. from 8.9% to 9.4%, according to a filing with the Securities and Exchange Commission.
The Tash group is in a proxy fight with the management of Gradco, a maker of equipment for copier machines, and is attempting to replace the Gradco board with its own slate of directors. The Tash group bought 32,500 shares of Gradco between Aug. 24 and Aug. 30 for $5.37 to $5.87 each, and now owns 713,500 shares.
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