LPI - Levy & Kagan are part of Warburg and they're also on LPI's board.
As i posted before in DD i gleaned from the expert posters to some of the S.Alpha articles about LPI, Warburg Pincus was liquidating one of their private equity funds (Fund IX) that contained millions of LPI shares originally received when they first helped the founder/CEO create LPI.
They had helped him with two of his earlier oil cos. as i recall (both of which were buyout acquisitions).
As of last reporting, there were still some 9 million shares of LPI from that Fund IX that was being liquidated. Some folks speculate that those 9 million shares have been sold off over the past several weeks.
The big question is if/when Warbug Pincus Fund X is being liquidated. That Fund X has 41 million shares of LPI.
LPI reports earnings this coming Monday after hours. Hopefully mgmt will clarify more about this big seller.
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