source: autosport.com Gryphon Master Fund, a Bermuda based investor, has acquired 5.8 percent of
the outstanding stock in Championship Auto Racing Teams Inc. Three days before
CART announced third-quarter losses of US$34m, Gryphon notified America's
Securities & Exchange Commission that it had acquired 854,400 shares through an
agent in Dallas, TX. The previous week, CART stock was trading on NASDAQ's OTC
board at between 42-52c. The buyout offer from Open Wheel Racing Series is 56c.
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