In an amended 13D filing this morning on Zale Corporation (NYSE: ZLC), Richard Breeden's Breeden Capital disclosed a 17.66% stake (7,875,839 shares) in the company. This is up from the 15.85% stake (7,070,839 shares) the firm disclosed in a recent filing.
In the firm's original 13D filing on the Zale's investment, Breeden said they have had conversations with the Company’s management, although the nature of those talks were not disclosed. Breeden's has aggressively built up its stake in Zales. In the original filing in September, the firm showed a 3,784,639 shares position. That position now stands at 7,875,839 shares.