Execs’ buy shores up Sharper Image

Shares of San Francisco-based retailer Sharper Image Corp., known for selling such items as massage chairs, air purifiers and nose-hair trimmers, soared 45% on Thursday after six top company executives bought shares this week.

The stock rose 85 cents to $2.72. The six insiders paid $1.78 to $1.90 a share.

The purchases, disclosed in regulatory filings made Wednesday, followed Sharper Image’s disclosure last week that a federal judge had rejected as inadequate a proposed $22-million settlement of a suit filed by consumers who complained that the firm’s Ionic Breeze air purifiers didn’t work as promised.

The judge’s ruling, along with a September sales report, sent the retailer’s shares down 12% to $3.31. They closed Tuesday at $1.81.

Chief Executive Steven Lightman bought 88,900 shares to bring his holdings to 238,900 shares. Chairman Jerry Levin purchased 100,000 shares, for a total of 271,000. Three other executives each acquired 10,000 shares, and one bought 5,000.