BUZZ-Mercury General falls after Wolfpack Research reveals short position

** Shares of Los Angeles-based insurer Mercury General MCY.N fall as much as 4.3%; last down 2.4% at $48.74

** Wolfpack Research says it is shorting MCY, claiming that the firm's California subsidiary is "deep underwater" as it estimates more than $2 bln in losses following the Los Angeles fires

** MCY did not immediately respond to a Reuters request for comment

** Reuters could not independently verify the claims in the report

** Wolfpack alleges MCY "management seems slow to share the true extent of its exposure with investors"

** MCY stock down 24.5% so far this year