Investor Lone Pine Raises Esprit Stake After CEO Resignation

Esprit Holdings Ltd.’s largest shareholder, hedge fund Lone Pine Capital LLC, increased its stake as the shares plunged after the apparel company’s chief executive officer and chairman quit last week.

Lone Pine bought 1.39 million Esprit shares on June 13 following Chief Executive Officer Ronald Van der Vis’s resignation and 14.1 million shares on June 15 after the chairman had quit as well, according to Hong Kong Stock Exchange data.