Gotham City Research
Gotham City Research is a financial analysis firm. It is not known who is behind the firm, though it has been widely published that it is linked to American investor Daniel Yu. According to its website: "Gotham City Research LLC focuses on due diligence-based, special situation investing. As of the publication date of our articles, we may have long or short equity positions in the companies covered."[1][2] Daniel Yu seems to have lost much money in subprime mortgage crisis and in February 2013 Gotham started to publish reports on firms that were apparently sound financially but were claimed to be really on the verge of bankruptcy.
Through July 2014 Gotham City had provided coverage on the following companies: Ebix (February 2013), Tile Shope (November 2013), Bluecora (February 2014), Quindell (April 2014) and Gowex. In the case of Gowex, a Spanish wireless internet company, Gotham City's critique helped bring about the company's collapse, with the founder and chief executive admitting to falsifying accounts for at least four years. However, according to a report of September 10, 2014 in the Financial Times, the insurance claims processor Quindell has revealed that the U.K. High Court has ruled in its favor in a libel action against Gotham City, after Gotham City failed to provide either acknowledgment of or a defense against Quindell's libel action.[3]
Gotham City acknowledges they may make money on the companies they cover, using a similar technique to Muddy Waters Research.[4]
References
- ↑ official website
- ↑ elmundo.es
- ↑ "Quindell claims Gotham libel win". Financial Times, 10 September 2014.
- ↑ telegraph.com