A new type of bearish investor is becoming more common — one that bets against a company's ability to pay back debt. Those in the group, known as "net-short debt activists," claimed their latest victim Monday as the rural telecom company Windstream Holdings filed for bankruptcy after losing a crucial legal ruling. In a recent memo, a group of attorneys from the law firm Wachtell, Lipton, Rosen & Katz lamented the recent rise of this investment practice. The lawyers from Wachtell Lipton also...


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