Perry Corp. Dumped Millions of $JCP Shares on 9/27, Now Owns 3.28% of JCPenney

Perry Corp., a hedge fund that owned 8.62% of JCPenney on 8/30 and actually bought 3 million of Ackman's shares at $12.90 in a secondary offering, dumped millions of shares on September 27, according to a 13D filing with the SEC. He dumped them between $9.02 and $9.58 and now owns 3.28% of the company (hat tip Street Insider). Stay tuned for an updated post on JCP. For now, read these previous posts for reference (1, 2).