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Ken Griffin And The E*Trade Baby On The Outs?

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Was it because of the Lindsay Lohan digs? You people know KG loves Freaky Friday!

E*Trade Financial Corp. said Citadel LLC, its largest shareholder and bondholder, plans to sell at least 24 million of the hedge fund's shares in the online brokerage, or the majority of its equity stake in the company. However, Citadel, which has twice provided the New York company with much-needed capital injections, will still own just under a 20% stake in E*Trade following the offering, assuming the conversion of convertible debentures held by Citadel. The hedge-fund giant's stake in E*Trade could fall further if a 30-day option for an additional sale of 3.6 million shares is exercised.

Citadel to Sell Majority of E*Trade Equity Stake [WSJ]