By  on August 19, 2019

Shares of J.C. Penney Co. jumped 6 percent Monday to 62.8 cents in after-hours trading following the retailer’s disclosure that its non-executive chairman Ronald Tysoe purchased 1 million shares of the company.

Tysoe purchased the shares at 59 cents each, bringing his total number of Penney’s shares to 1,352,128.

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