legg mason inc

Activist investor Nelson Peltz has virtually reached a limit on his ownership stake of Baltimore-based Legg Mason Inc. after his latest stock purchase late last week.

New York investor Nelson Peltz has acquired a bigger share of Baltimore-based Legg Mason Inc., buying 2.65 million shares of the Baltimore money manager for $76.5 million between Aug. 1 and Aug. 3, a Securities and Exchange Commission filing shows.

Legg Mason Inc. said Monday it will lay off an additional 35 workers by January under a previously announced plan to shut down the money manager's Owings Mills facility.

Legg Mason Inc. shareholders approved a $5.9 million pay package for Chairman and CEO Mark R. Fetting in an advisory vote announced Tuesday at the Baltimore-based company's annual meeting.

Three community leaders say the drop in city test scores is no reason to doubt the progress made under CEO Alonso

Legg Mason Inc. has bounced back from the worst of the financial crisis. Yet one key measure stands in the way of a full recovery: Clients continue to pull money from Legg Mason's mutual funds even as the market rebounds and shell-shocked investors regain their footing.