Fairfax Denies Manipulating Asset Values

Fairfax Financial Denies Allegations of Manipulating Asset Values

Fairfax Financial, a Canadian insurer, has dismissed claims made by Muddy Waters Research that it manipulated asset values. The company strongly refuted the accusations, stating that Muddy Waters’ report was “false and misleading”. This detailed response came after Fairfax’s initial brief reaction to the report, in which Muddy Waters accused the insurer of engaging in “value destructive transactions” to generate accounting gains.