Thursday, March 08, 2007

Greenlight Capital's Einhorn Resigns from New Century (NEW) Board

In an amended 13D filing this morning on New Century Financial Corp. (NYSE: NEW), 6.3% holder Greenlight Capital disclosed that its founder David Einhorn resigned as a director of New Century effective as of 7:00 p.m. EST on March 7, 2007. No reason was given for the departure.

Shares of sub-prime lender New Century have plummet recently related to problems in the sector and federal investigations into their accounting and stock trading activity.

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