I read that on the PLS forum earlier today. It didn't make sense...

I read that on the PLS forum earlier today. It didn't make sense to me at the time, but I didn't give it much thought. Since it has turned up here, I thought I'd try figure it out.
My interpretation of the anouncement is GS owns the PLS shares, hence also owns the voting rights, but has loaned out most of their shares for the purposes of shorting. This is slightly different to what was posted, GS hasn't borrowed the shares, they are the ones loaning them out. The poster is correct in that this is nothing new. We (LTR) have seen similar notices from GS before, too. At some point, the borrowed shares will need to be returned to GS. Will they continue to hold? It could turn out to be a great trade for them. Maybe they'll ride it all the way down and back up again. I am not condoning this activity in any way.
G