(Bloomberg) — IRB Brasil Resseguros SA, the re-insurer taking flak from Berkshire Hathaway Inc. after allegedly making false claims Warren Buffett’s holding company owned a stake, said both its top executives resigned.The exit of Chief Executive Officer Jose Carlos Cardoso and Chief Financial Officer Fernando Passos marks the latest twist in a month-long drama that captivated Latin American investment circles and wiped out $5.3 billion in IRB market value.Short seller Squadra Investments triggered the first leg of a 58% stock plunge on Feb. 2 when it released a 150-page report disclosing a bearish position and questioning IRB’s profit figures. IRB …read more
Source:: Yahoo Finance
