Kerry Group has decided to take action against Ontake Research, the little known hedge fund that last week launched a short attack on the company s shares.
The Tralee, Co Kerry-based group said yesterday that it had reported Ontake to the financial regulators where Kerry shares are traded - the Central Bank of Ireland and the Financial Conduct Authority in the UK.
Kerry chief financial officer Marguerite Larkin confirmed the complaint on a call with analysts following the company s 2020 annual results announcement yesterday morning.
Last Thursday Ontake, a hedge fund that had bet against Kerry shares, issued a scathing report sharply criticising Kerry s acquisitions strategy and claiming the company routinely overvalued the companies it purchased.