Carl Icahn Sues Goldman Sachs Over Delphi Short Selling

carl icahn

Goldman Sachs shorted auto-parts maker Delphi for $140 million and Icahn’s High River Limited Partnership feels it’s being screwed:

Forbes: Carl Icahn’s High River Limited Partnership has struck back at Goldman Sachs Group, saying a lending unit of the investment bank owes High River $30.8 million in a short sale that has turned contentious.

The short sale involved $140 million face amount of Delphi bank debt that Goldman Sachs in July agreed to purchase for $53.2 million, or 38 cents per dollar. In a counterclaim filed in New York state court, High River takes the position that the bank debt now has a value of $22.4 million, or 16 cents on the dollar, and that Goldman Sachs owes High River the difference between $53.2 million and $22.4 million.

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