BUSINESS
03/15/2009 05:12 am ET | Updated May 25, 2011

Jim Chanos, Short Seller, Saw Nonpublic Research On Fairfax, According To Court Documents

Jim Chanos's Kynikos Associates Ltd., a short seller of Fairfax Financial Holdings Ltd., learned of negative analyst research on that company before it was published, according to unsealed court documents.

Chanos, Steven Cohen's SAC Capital Advisors LLC and other hedge-fund managers were accused in 2006 by Fairfax of cooperating to drive down the firm's shares through short sales, according to a complaint by Fairfax seeking $6 billion in damages. Toronto-based Fairfax owns U.S. and Canadian insurers.

Read more on bloomberg.com