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Einhorn's Greenlight adds Toshiba stake

The Greenlight hedge funds dropped 4% in the aggregate during the period

Simone Foxman | Bloomberg 

Greenlight Capital, the hedge fund firm led by David Einhorn, took a new stake in Japanese conglomerate Toshiba Corp. during the second quarter.   The firm said in a note to clients dated Friday that it’s wagering Toshiba shares will rise once it exits money-losing contracts tied to its Westinghouse business, which filed for bankruptcy protection in March. Greenlight also said it believes Toshiba can resolve a legal dispute over a sale of its memory business that was meant to shore up its balance sheet.   “We believe investors will refocus on the significant margin ...

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First Published: Sun, July 16 2017. 00:36 IST
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