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Lichtenstein revises restructuring plan for Steel Partners

March 20, 2009  

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Warren Lichtenstein, founder of the activist firm Steel Partners, has revised the restructuring plan for his troubled $1.2 billion Steel Partners II fund after a lawsuit and deluge of investor complaints related to his proposed solution for handling redemptions. The fund, Lichtenstein’s flagship, lost 39% in 2008.

Late last year, after receiving redemption requests representing...

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