• Les Wexner sells L Brand shares

    2 monthes ago - By Fashion United

    Les Wexner, the man who made his billions off of Victoria's Secret, is selling 745 million dollars worth of shares in parent company L Brands Inc. This brings his stock sales from L Brands to 1.2 billion dollars for the year so far.
    The stocks are being sold off through a secondary offering managed by JPMorgan Chase & Co. as reported by Bloomberg. The sale is expected to close next Monday, July 19.
    Wexner stepped down from L Brand's board this past May, following his retirement as CEO of the company last year. L Brands shares have soared 700 percent after hitting a five-year low in early...
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