Harbinger sells 1.36 million shares of Solutia, drops stake to 5.7%

By Lisa Kerner

Charlotte, N.C., Nov. 23 - Solutia Inc. shareholders led by Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situation Fund, LP sold 1,362,000 shares of the company's stock priced from $11.10 to $13.03 each between Oct. 27 and Nov. 20, according to a schedule 13D/A filed with the Securities and Exchange Commission on Monday.

Between Oct. 16 and Oct. 21, Harbinger sold 1,342,065 shares for a 6.9% stake, a prior SEC filing said.

Harbinger beneficially owns 6,897,053 shares, or 5.7%, of the St. Louis-based performance materials and specialty chemicals company.

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