Investment Group to Sell Computer Memories Stock

A New Jersey investment group said it plans to sell all of its holdings in Computer Memories, the one-time disk-drive maker in Chatsworth that will merge with a Hollywood film company.

The investment group, led by Paul and Natalie Koether of Far Hills, N.J., told the Securities and Exchange Commission last week that it had sold 367,640 shares of Computer Memories stock, lowering its stake in the company to 6.2%. In December, the Koether group said it planned to seek control of Computer Memories.

But, earlier this month, Computer Memories announced plans to merge with Hemdale Film, which has produced such movies as “Platoon.” Hemdale will own 80% of the surviving company.