Chinese companies have a problem with leaking important information prior to it becoming news. The CFO resigning (to pursue blah blah blah) is a much bigger problem than the MW report. The resignation was "rumored" and swirling around all weekend. That's a tangible nightmare, not just conjecture by MW. Maybe MW has something, maybe they don't but the CFO quitting before he becomes the subject of an SEC fraud investigation is much more relevant. And finally, everyone new Levi & Korsinsky was preparing a class action fraud suit for fudging the financial statements long before the MW report, even though the press release came at 6:30 this evening.
Maybe 1 of these 3 events alone could possibly be explained away but if you guys continue to turn a blind eye when there's a fire right in front of you, you're gonna get burned.
MW attacks these stocks with already high short interest and people are praising them...... I can find a company with 30 percent short interest and bash it cause obviously someone already knows/believes it's a fraud or thru common sense or DD someone knows the company has irregularities !!! No brainer!
Nowhere does it say they're "basing" their lawsuit on the MW report. First of all, that would be asinine to base a class action suit on a report that you don't know to be true or not. Secondly, the MW report was documented in the civil suit solely to confirm what Levi & Korsinsky have already suspected from their own investigations. They aren't basing anything on the MW report, only using it as a confirmation tool.
If there was fraud done by this CFO alone (which has never happen in history) they would have fired him and made an example out of him, instead of allowing him resign "to pursue other business opportunities". Once this comes out, you'll see it goes all the way to the top and I can guarantee this... it won't be this last high-level DGW executive running away with his tail between his legs.
Oh yah, that's good Fat Ramesh. "Take the plank out of your own eye before you pick the sliver from thy foe."
Makes no difference what you say about Carson. What matters is what the market thinks. What does the stock price tell you?
I know what it has being saying to me since I bought puts in January. "FOLLOW THE MONEY" and the money has been LEAVING this stock for 3 months. firstname.lastname@example.org