ABOUT FIAT LUX PARTNERS

We are independent activist short-sellers, past and present.

We believe in short activism: intelligent and well-incentivized investors are more likely to find instances of financial wrongdoing than are thinly-stretched government employees at the SEC’s Division of Enforcement.

We also believe that the activist space has become too crowded, and that low-quality publishers are free-riding on the credibility built up by good and honest activists over the past decade.

The sell-side reports issued in response to activist research are typically cursory, uninformative, and lacking in credibility to the investing public as non-independent evaluations of short-sellers’ work.

Yet not all investors have the time, stamina, or requisite level of sophistication to evaluate the claims made by activist short-sellers – much less within the timeframe required to respond to an activist report.

We, as seasoned short-sellers, understand the work that goes into constructing an honest and credible activist short report.

But just as we understand the financial games that some companies play to give the appearance of strong performance, we also understand the tactics used by some short-sellers to manufacture an influential short case.

We intend to publish responses to short reports which we believe to be flawed, in the interest of policing the activist space against low-quality reports and protecting the honest short-sellers whose collective credibility they threaten.

Contact us to learn more.