Seek rejects Blue Orca claims as 'exaggerated', activist returns
Seek has withstood a follow-up attack from activist short seller Blue Orca that queried the whereabouts of Chinese jobs platform Zhaopin's "idle" cash after the company dismissed Blue Orca's first report as "inaccurate" and "unsubstantiated".
Shares in the online jobs platform recovered from a 7.5 per cent fall on Monday to end the session less than 1 per cent lower, at $21.33, as traders assessed Blue Orca's new claim that Zhaopin's failure to use its $221 million cash balance to pay dividends or a repay debt was a red flag.
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