MedQuist shareholder Newcastle Capital has 4.4% ownership interest

By Lisa Kerner

Charlotte, N.C., April 9 - Investors led by Newcastle Capital Management, LP reported a 4.4% stake in MedQuist Inc. in a schedule 13D/A filed with the Securities and Exchange Commission on Thursday.

American Hallmark Insurance Co. of Texas, an affiliate of Newcastle Capital and MedQuist director Mark E. Schwarz, bought 41,460 shares between March 26 and March 30 at prices from $2.40 to $2.55 each.

On March 26 and March 27, American Hallmark bought a total of 20,500 shares of MedQuist priced at $2.55 and $2.44 per share, respectively, for a 5.3% interest, a prior SEC filing said.

Newcastle Partners, LP distributed 387,025 shares to withdrawing partners on April 7 at a price of $2.55 per share.

The investors beneficially own 1,655,509 shares of the Mt. Laurel, N.J., medical transcription technology and services company.

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