Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial alleging manipulation in its asset values.
Shares of the property and casualty insurer sank 12% on Thursday, and set for their worst drop since Sept. 2008.
Fairfax currently has a short interest of 0.65% of free float worth C$203.81 million ($151.36 million), with short sellers having m