LeBow’s Group Lowers MAI Systems Stake

IRVINE —  A group chaired by investor Bennett LeBow cut its stake in MAI Systems Corp. to 11.6% from 12.7%.

In a document filed with the Securities and Exchange Commission, Brooke Group Ltd. said it sold 870,000 common shares between April 19 and May 15 at prices ranging from $5.75 to $9.75 a share. The group now holds 782,433 shares in MAI Systems, a computer network provider.

LeBow is former chairman of MAI, and at one point controlled an 82% stake through a holding company.