EarthLink Shareholder Sells 10.6 Million Shares
EarthLink
(ELNK)
said shareholder
ITC Service
sold 10.6 million EarthLink common shares, and two ITC officers resigned from the Internet service provider's board.
Campbell B. Lanier and William H. Scott of ITC resigned from EarthLink's board in connection with the sale. Robert M. Kavner, a previous board member and currently
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chairman, has been named to the board.
EarthLink, which has about 130 million shares outstanding, said ITC sold the stock to pursue other investment opportunities.
Shares of EarthLink, which is based in Atlanta, fell 6 cents, or 0.7%, to $9.09 in recent
Nasdaq
trading.
