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Samsung Galaxy Note 7 Crisis Hasn’t Dissuaded This Activist Hedge Fund

October 12, 2016

Two affiliates of activist hedge fund Elliott Management said its view on Samsung Electronics had not diminished, despite the company ditching its flagship Galaxy Note 7 smartphone.

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Elliott Management, which owns 0.62% of Samsung Electronics (SSNLF), had submitted unsolicited proposals for a radical corporate makeover at the world’s biggest smartphone maker earlier this month.

For more on the future of Samsung after the Galaxy Note 7, watch:

The company also slashed its quarterly profit estimate by a third on Wednesday, taking a $2.3 billion hit after scrapping the Note 7, in what could be one of the costliest product safety failures in tech history.