Loeb's Third Point LLC Lowering Its Stake in Acorda

May.25.07 | About: Acorda Therapeutics, (ACOR)

In an amended 13D filing on Acorda Therapeutics (Nasdaq: ACOR), Daniel Loeb's Third Point LLC disclosed they lowered their stake in the company to 4.1% (1 million shares), down from 9.9%.

In his original 13D filing, Loeb requested that Acorda's Board of Directors retain an investment bank and pursue a process to sell the Company.