XPO Logistics Inc. (XPO) - Get Report bounced back Friday, surging 13.35% to $50.44, after the transport and logistics company issued a rebuttal to a short seller's "intentionally misleading" report.

"Today's report from a short-selling firm is intentionally misleading, with significant inaccuracies, and fails to reflect that XPO has delivered strong performance for its long-term shareholders," XPO Logistics said in response to a report by Spruce Point Capital Management LLC. "The facts demonstrate that the short seller's claims, most of which have been previously floated and refuted, are largely baseless and an attempt to string together unrelated pieces of incorrect information to paint an inaccurate impression of the company." 

The Greenwich, Connecticut-based company also said its board authorized XPO to repurchase up to $1 billion of its common stock.

Spruce Point Capital Management on Thursday issued a report charging that XPO had "unreliable and dubious" financials, $4.7 billion in debt and an inability to generate sustaining free cash flow. The report sent XPO shares into a tailspin as they fell more than 26% and hit a new low of $41.05.

Spruce Point Capital Management didn't respond to a message seeking comment.

Deutsche Bank said that it had found "highly misleading statements and inaccuracies related to basic calculations" in the Spruce Point report, including double-counting some debt, excluding items from free cash flow that are typical of the industry, and, in one equation, incorrectly showed a decline in profit instead of a gain.