CONTROVERSIAL investment and research firm Gotham City launched its most ambitious attack last night – taking on a US company backed by Wall Street giants Warburg Pincus and Goldman Sachs.
Gotham, which bets against firms it claims have questionable financial accounts, published a 61-page report into a web hosting firm called Endurance International, accusing it of overstating various financial metrics.
Shares in the New York-listed group collapsed up to 28 per cent after the report was published. Endurance, led by chief exec Hari Ravichandran, is 40 per cent owned by Warburg Pincus and Goldman Sachs. Neither firm responded to requests for comment yesterday but Endurance said: “The claims in this ‘report’ are baseless and not rooted in reality.” It added the claims were “ridiculous.”
Gotham previously attacked UK-listed Quindell and Spanish firm Gowex, prompting the value of both to deteriorate.