David Einhorn’s Greenlight Capital, Inc. has confirmed that the Financial Services Authority (“FSA”) in the United Kingdom has fined Greenlight and David Einhorn for inadvertently engaging in market abuse tied to trading in shares of Punch Taverns plc (LSE: PUB) back in June 2009. Greenlight’s statement was that “The FSA has found that the market abuse was inadvertent” and that the notices showed that the market abuse was not deliberate or reckless. It further noted that Einhorn did not believe that the information that he had received was inside information and the FSA imposed a £7.2 million fine (British Pounds). Einhorn even called the action unjust and inconsistent with the law and with prior FSA enforcement precedent.
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