As is sometimes noted, the Hindenburg is known as a gigantic disaster, but only a little over a third of the people on it died, which is probably better than you usually get from an airplane that explodes in a fireball at 600 feet.
So maybe they are looking for companies that are going to have extreme PR disasters, regardless of actual consequences.
The Hindenburg wasn't even the deadliest airship disaster. 36 died in the Hindenberg fire while 52 died on the Dixmude, 48 on R101, and 73 on the USS Akron (three survivors.)
I think the Hindenburg is the best known because it was captured on film and broadcast radio, and was also the last.
They're looking for companies that are fatally flawed but present otherwise. Kind of like the Hindenburg.
Hedge funds are not usually terribly concerned with marketing image. See, for example, Cerberus Capital Management, the former owner of Chrysler, which saw fit to name itself after a three-headed dog that guards the gates of Hell.