Financier Irwin Jacobs Shuts Down Web Site
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Financier Irwin Jacobs has shut down https://www.irwinljacobs.com, the Web site he used to defend three controversial public companies in which he was a large shareholder.
Jacobs used his site to defend the companies against criticism by short sellers, who seek to profit from a decline in a stock by selling borrowed shares, hoping to replace them with stock purchased at lower prices.
Shares of the three Jacobs-affiliated companies have plunged this year: Clarent (CLRN) by 53%, AremisSoft (AREM) by 96% and Conseco (CNC) by 36%.
The site was closed on Friday, said Ryan Hanson, a Web site developer for Jacobs Interactive, the Jacobs-owned company in Minneapolis that operates sites for a dozen companies controlled by the financier.
Jacobs was unavailable for comment.
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