January 17, 2008 / 12:49 PM / 12 years ago

Breeden raises stake in Zale to 18.1 pct

Jan 17 (Reuters) - Richard Breeden, the former U.S. Securities and Exchange Commission chairman, raised his stake in the jeweler Zale Corp ZLC.N to 18.1 percent from 17.66 percent.

Breeden, who is an activist investor, bought 195,000 shares through his investment vehicle Breeden Capital Management LLC on Jan 14, for $13.4188 each, according to a filing with the SEC on Wednesday.

Breeden has periodically raised his stake in Zale over the past few months and has said in previous filings that he believes the stock is undervalued. He has said he may try to initiate a major transaction at the company.

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