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LifeLock (LOCK) Stock Surges, Explores Possible Sale

NEW YORK (TheStreet) -- Shares of LifeLock (LOCK) were jumping 6.04% to $16.68 in late afternoon trading on Friday as the Tempe, AZ-based identity theft protection services company said it will work with the investment banking advisory firm Evercore Partners (EVR)to explore strategic initiatives, including a possible sale.

The move comes as LifeLock has attempted to defend itself against the hedge fund Elliott Management who unveiled an 8.8% stake in the company in June, Reuters reports. Elliott Management noted that LifeLock's shares were undervalued and discussed ways to enhance shareholder value with the...