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The asset manager's share price continued to fall today, falling below the short-seller's target of A$2.66.
The Brisbane-headquartered asset manager has made multiple changes to its board as Kim Morison steps up to interim managing director.
US short-seller resumes its attack in response to Blue Sky’s rebuttal of its initial research.
A trading halt was placed on the firm's shares after the California-based short-seller published a searing report.
Waning demand for Black River's hedge fund strategies is prompting the spin-off, which also includes its $2bn-plus private equity arm.
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