In the interview, he said that MW is not saying that FMCN is a "Complete fraud" but a lot of their dealings/transactions/reports are questionable which raises serious doubts on the company's core business and revenues.
Oh WoW. So he did not say that FMCN was not a "COMPLETE Fraud" as if that makes some difference. ANY USE of the word "fraud" is like "kryptonite" to SMan.
The "man" and the company CB and MW's should be have criminal charges filed and be put out of business. They do little to no DD, but just shoot from the hip with some very questionable documentation and rumors etc. Have cost a lot of people a LOT of money. Not just the companies they "pick out of a jar" but those in that space. The Sino-Forrest affair destroyed the PPS of a lot of companies for more then just a few days. I recall June 3 quite clearly!!!!!!!!!!!!!! SINA was on a good day and was @ $128 +-. ALL OF A SUDDEN they and many more China stocks began to Nose Dive. I could not believe what I was seeing. It was a HORRIBLE day and sev weeks after. That reaction was over kill I agree when Sino-F had nothing to do with any of the stocks who got battered but the thing that irks me most is that the charges of fraud against Sino-F have never been proved in the first place.
But he said that they overstated their revenue by 50%. He did not just question their number. He actually had said it plainly the acquisition never existed and the lcd is overstated by 50%. That is accusation with plain language, not just questioning. I do not know how he could get around it. That would support a lawsuit of stock manipulation and defamation.