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Einhorn's hedge fund upbeat on Toshiba

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Published Sun, Jul 16, 2017 · 09:50 PM

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    New York

    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 that 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 that it believes Toshiba can resolve a legal dispute over a sale of its memory business that was meant to shore up its balance sheet.

    Toshiba

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