Einhorn's hedge fund upbeat on Toshiba
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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.
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