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Tuesday, December 18, 2012

CORRECTED-Cerberus to sell gunmaker Freedom Group after shootings, (NASDAQ: PLCE)

Following pressure from a major investor, U.S. private equity firm Cerberus Capital Management is selling gunmaker Freedom Group, whose BushAR 15 rifle was used in the Connecticut school massacre last week.The California State Teachers' Retirement System (CalSTRS) said on Monday it was reviewing its investment with Cerberus in the wake of Friday's shooting, in which a gunman killed 20 children and six adults at Sandy Hook Elementary School and then took his own life.Before going to the school, the gunman, Adam Lanza, 20, shot dead his mother in the home they shared, according to law enforcement officials.In addition to Cerberus, some gun retailers also took steps.

The Children's Place Retail Stores, Inc. operates as a specialty retailer of apparel and accessories for children. Shares of PLCE traded higher by 1.06% or $0.48/share to $45.75. In the past year, the shares have traded as low as $43.12 and as high as $62.24. On average, 398684 shares of PLCE exchange hands on a given day and today's volume is recorded at 174501.