James River shares fall on DE Shaw stake sale

Shares in James River fell more than 5 percent in early trading
on Nasdaq after news yesterday that DE Shaw is to sell a 14.5
percent stake as the hedge fund continues to cut its holding.
The secondary sale of 4.25mn shares - worth about $179mn based
on yesterday's closing price on Nasdaq of $42.04 - will be
handled by Morgan Stanley.
The sale will reduce DE Shaw's holding in the carrier from 36.0
percent to 21.5 percent, James River...