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Tuesday, October 31, 2006

Ilia Lekach Lowers Stake in eCom Ventures (ECMV) to 4%

From 13D Tracker

In an amended 13D filing on eCom Ventures, Inc. (Nasdaq: ECMV), Ilia Lekach disclosed a 4% stake (120K shares) in the company. This is down from the 9% stake he disclosed in a past filing (07/02).

According to traders who know the stock, Lekach's selling has undeservedly punished the stock over the past six months, but the stock has moved higher recently as word circulated Likach was nearly done selling.

While Lekach has been selling his stake in the company, eCom Ventures' controlling shareholder Glenn Nussdorf has been buying up shares of Lekach's company Parlux Fragrances (Nasdaq: PARL).

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