Hedge Fund Manager David Einhorn Is Settling In For A 'tough Fight' With GM (GM)
- Greenlight Capital's David Einhorn just laid out what's going on with his activist move on General Motors.
- Earlier this year, Einhorn announced he had increased his position in the car company.
- The activist hedge fund investor proposed that GM create two classes of stock, and accused the company of misleading credit-rating agencies about the plan.
- In a letter sent to investors April 25, Einhorn noted that his firm had "made more noise than usual (and more than we'd like) by making public our idea for General Motors Company."
- "We felt the need to press the issue as we believe there is a lot of value to unlock and the company did not fairly evaluate our idea ...
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