Galleon sells more shares of PeopleSupport

By Lisa Kerner

Charlotte, N.C., June 20 - Galleon Management, LP reduced its stake in PeopleSupport, Inc. to 12.75%, from 14.17% on June 3.

The investors sold 300,035 shares of the company's stock between June 3 and June 19 priced from $8.72 to $9.61 each, it was reported in a schedule 13D filed with the Securities and Exchange Commission.

Galleon Management beneficially owns 2,696,385 shares of the Los Angeles-based offshore business process outsourcing provider.

The investor sold 471,742 shares of PeopleSupport stock between May 14 and June 2 priced from $8.88 to $10.19 each, a prior SEC filing stated.

In March, Galleon Group announced that its designee, Krish Panu, would join the board of directors of PeopleSupport under a letter agreement between the investor and the company.

In exchange, Galleon agreed to vote all its shares of PeopleSupport in favor of the nominees approved by the company's nominating and corporate governance committee.

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