Activist Fund Increases Stake In Flagging Clothier Chico's

Law360, New York (September 10, 2013, 2:50 PM EDT) -- Activist hedge fund Blue Harbour Group LP disclosed that it ramped up its stake in sputtering retailer Chico's FAS Inc. after the markets closed on Monday, hinting in a securities filing that it could leverage its $125.5 million investment to press company leadership for change.

Blue Harbour has now scooped up more than 9 million shares in Florida-based Chico's — good for a 5.6 percent slice, up from a 4.9 percent stake. The added investment comes as the womenswear specialist tries to pull itself out of...
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