Legg Mason director Peltz picks up more shares

Legg Mason Inc. director and shareholder Nelson Peltz has picked up more shares of the Baltimore money manager, according to a Securities and Exchange Commission filing submitted Thursday.

Peltz bought 144,600 shares through funds connected with his Trian Fund Management LP, bringing his ownership stake to nearly 10.1 million shares, or more than 6 percent.

The activist investor joined Legg's board in the fall; Trian is limited to acquiring no more than 9.9 percent of Legg's stock over the next two years.

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