Chanos: CGI one of "largest short positions"

|About: CGI Group Inc. (GIB)|By:, SA News Editor

James Chanos counts CGI Group (GIB -1.6%) among his "largest short positions," NewsWeek reports. In a 10-page client memo, Chanos cited declining cash flow, falling new business bookings, questionable accounting practices, and the "PR mess" surrounding as reasons for his position.

An increasing amount of investors are on board the short train: although 1.7% of shares outstanding were shorted as of Nov. 15 on the NYSE, 29.9M shares in Toronto had been sold short (almost 11% of shares outstanding), FactSet data shows.