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EMC co-founder to sell $400M in shares

The co-founder of storage maker EMC and his wife have filed to sell 10.1 million shares of stock in the company, according to documents filed with the Securities and Exchange Commission on Monday.
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Written by ZDNET Editors, Contributor on
The co-founder of storage maker EMC and his wife have filed to sell 10.1 million shares of stock in the company, according to documents filed with the Securities and Exchange Commission on Monday.

The shares would be worth more than $400 million, based on EMC's (NYSE: EMC) current stock price. The stock was recently trading at $40.42, down 28 cents.

The shares represent about 32 percent of the couple's holdings in EMC, a spokeswoman for the company said. Full story. --Margaret Kane, ZD Inter@ctive Investor

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