JC Penney Files for Resale 39.08M Shares by Ackman's Pershing; Street Was Largely Ahead of This Move
August 26, 2013 at 17:25 PM EDT
Shares of JC Penney (NYSE: JCP ) have fallen about three percent in Monday's post-market session following a Reuters rumor and the following SEC filing which confirmed a company prospectus for 39.08 million shares for resale by Bill Ackman's Pershing Square. The news should not be surprising to investors