Barry Rosenstein, who made the most expensive U.S. home purchase in 2014, is suing for what to him must be pocket change, as reported by the New York Post.
Rosenstein bought the property in the Hamptons for $147 million, but the founder of Jana Partners said when he bought the home, he was told there were no brokers involved and his name would not be disclosed. They failed to keep their promise and now Rosenstein is suing Corcoran Partners for the $253, 000 he paid to get his name off of the claim.
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Rosenstein, who owns 8% of Hertz and is the largest shareholder, has been pushing the company to buy back stock. Rosenstein, along with Carl Icahn and Daniel Loeb, who also own shares in the rental car company, have been encouraging management to revamp the business. Around 53% of Hertz is owned by hedge funds, and the company has been struggling with accounting irregularities, with issues in statements for as far back as 2011. As a result, Hertz has fallen 16%, but rose slightly on Rosenstein’s statement that Hertz should and will buy back shares; he predicts the repurchase program might involve 20% of the float.
