Fortress Execs. Sell Off Shares

Aug 31 2010 | 10:34am ET

Are Fortress Investment Group’s top executives feeling bearish about the alternative investments giant?

Four of them sold off chunks of the firm’s shares last week, including CEO Daniel Mudd. Mudd, the former Fannie Mae CEO who took the reins at Fortress last year, dumped about one-sixth of his stake in Fortress, or 150,000 shares, netting himself $500,000.

Fortress shares are down about 27% this year.

Following in their boss’s footsteps where CFO Daniel Bass, General Counsel David Brooks and Chief Accounting Officer Jonathan Brown. Bass sold more than 6,000 shares, Brooks more than 5,000 shares and Brown more than 3,000 shares, according to regulatory filings.


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