Marble Ridge Responds to Defendant Neiman Marcus Group, Inc. Court Filing

DALLAS, Dec. 14, 2018 /PRNewswire/ -- In response to media inquiries, Marble Ridge stated:

"The facts are straightforward. Neiman Marcus Group, Inc. and related entities have been charged in Dallas, Texas district court with, among other wrongdoings, the fraudulent conveyance of approximately $1 billion of assets to private equity firms Ares Management, LLP and the Canadian Pension Plan Investment Board, which are the beneficial owners of Neiman Marcus Group, Inc.

It is very telling that the thrust of the defendants' response is to say that the culprit here is Marble Ridge, not Neiman Marcus, and it is important to 'stop' Marble Ridge.

The fact is, as Marble Ridge has publicly and privately pointed out, Neiman is in financial distress. It has not been fully transparent about its machinations, which are designed to line the pockets of Neiman's management, Ares, and the Canadian Pension Plan Investment Board. As defendants are well aware, concerns about its financial condition and business viability had been raised in the public domain by the financial press well before Marble Ridge made any public statements.

To assert as its defense that certain independent parties have downgraded their credit ratings on Neiman because of Marble Ridge's actions shows how desperate the defendants are to cover up their wrongdoing," Marble Ridge said.

About Marble Ridge Capital LP 
The principal objective of Marble Ridge is to achieve superior risk-adjusted returns throughout market cycles by making opportunistic investments across and throughout the capital structure of companies that are expected to undergo some sort of corporate event or restructuring.  Marble Ridge is led by Managing Partner Dan Kamensky, who has over 19 years of industry experience. Prior to founding Marble Ridge, Mr. Kamensky was a Partner at Paulson & Co. Inc., where he initiated and executed some of the firm's most complex and profitable distressed and event-driven investments across the capital structure.

Media contact: 
Ross Lovern / Cathryn Vaulman 
KEKST 
212-521-4800 
[email protected]  / [email protected]  

SOURCE Marble Ridge Capital LP