All Eyes Are On Le Bow Here, Too

Is Ben LeBow in or out? No, we aren't talking about RJR Nabisco. We mean his big stake in a much smaller company--MAI Systems (NOW), a provider of customized information systems to small and midsize factories, hotels, and casinos. According to an MAI registration with the Securities & Exchange Commission in November, LeBow was going to sell his 2 million shares--a 29.2% stake. As it turns out, he did no such thing. In late February, LeBow announced he had sold 297,000 shares--at 61/2 to 73/8 a share--dropping his holding to 24.7%. Some investors are intrigued. They know LeBow will not unload at a low price. So they want to stay tuned and possibly reap a windfall--as they suspect LeBow will do when he makes his move.

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