Canadian Firm Buys Stake in Verit Industries

A Canadian investment firm bought a 5.4% stake in Verit Industries, a Sun Valley-based maker of stereo loudspeakers and a distributor of electronic products.

In a filing with the U.S. Securities and Exchange Commission, Meson Investment Ltd. of Vancouver, British Columbia, said it bought the stock as an investment and might increase or decrease its holdings, depending on market conditions.

Meson said it bought 40,800 of Verit's 7.6 million total common shares outstanding between April 22 and June 20. The firm said it paid between $3.25 and $6.50 a share, for a total of $191,700.

Last month, Arthur Dalfen, a Bermuda investor, raised his stake in Verit to 6.8%. Dalfen also has said his stake is for investment purposes only.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World