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Spruce Point Shorts Kratos Defense And Security Systems, Sees 40-70% Downside Risk

New York-based short activist Spruce Point Capital Management today announced a short bet against the stock of Kratos Defense and Security Systems. The firm issued the following statement: "Spruce Point Capital Management is pleased to announce it has released the contents of a unique research report on Kratos Defense & Security Solutions, Inc. (Nasdsq: KTOS) ("Kratos" or "the Company"). Spruce Point has conducted a critical forensic and fundamental analysis of the Company. We believe the current management has destroyed tremendous value, while overseeing an enterprise that has repeatedly had run-ins with Federal regulators. Given management’s previous association with Titan Corp, a firm...