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Angry CFO Ejects Macquarie Analyst at PAX Earnings Briefing
- PAX’s Chris Lee says analyst Timothy Lam wasn’t invited
- Nomura says dispute may hurt company’s shareholder value
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An earnings briefing in Hong Kong turned heated when the chief financial officer refused to continue with his presentation until an analyst from Macquarie Group Ltd. left the room.
In a video obtained by Bloomberg News, PAX Global Technology Ltd. CFO Chris Lee can be seen standing over a seated Timothy Lam and ordering him to leave the conference room on Wednesday. Lam initiated coverage on PAX Global’s stock in April with an underweight rating, making him the only analyst out of 17 tracked by Bloomberg to have a bearish recommendation at the time. On Thursday, Lee said he regretted his behavior, which was a "one-off" that didn’t reflect the management’s position and he welcomes "diverse points of view," according to an e-mailed statement.