In my opinion, the game is over pending Deloitte's opinion. Carson Block should not continue this fight. I think he has some level credibility left, in the sense that he seemed to have his arguments lined up, but if he continues to stand and say that Deloitte is not trustworthy, he will lose it all. He will just sound like a completely insane nutjob (like waldo).
I for one, would have a slightly higher level of respect if Carson did this-- in that he is bowing out more respectfully than if he kept this going.
I wonder how Carson's daddy feels about all this. I would guess that after ONP is cleared WAB Capital's credibility will suffer. Would you want them to provide coverage on your company when they could just as easily short your stock and stab you in the back? At the very least he will have to fire Carson. Thanks for ruining my company son!
Just a reminder-- this saga is just about over. ONP hired Deloitte forensic accounting group essentially, read its description below-- to prove MW allegations wrong. Deloitte is the final say. Nothing Waldo or MW says here (all day every day it seems) can change the fact that it's over. Frankly, I can't see why even Waldo is still going at this. I do believe Carson will stop, as he is too smart and has too much to lose to keep fighting this battle and looking like a nut job.
"Deloitte Financial Advisory Services LLP (“Deloitte FAS”) advises clients on managing business controversy and disputes, executing deals, and maintaining regulatory compliance. We provide services to companies throughout their lifecycle. Specifically, we help clients address serious business concerns involving fraud, forensic investigations, litigation, discovery readiness, document review, and reorganization."
I expect another craptacular article by chinacompanyanalyst... blogger and number 1 son of Carson Block and Waldomushman to appear tomorrow. They are probably busy composing it as I type this message. Something about how Deloitte is not a good audit company and there will not be a full audit only a response to Muddy Waters accusations. Just a hunch but let's see if I'm right? Waldo already posted a hasty little blurb along those lines today. There may be a few more rounds to go...
I would give Carson the benefit of the doubt if he pulled his report-- but only if he did so before the Deloitte Audit. Because if he waits til the audit, then it's just like he's clinging onto the last bit of hope that maybe they'll find something unrelated. If he pulls his report now, it's more like he's acknowledging that maybe his analyzed was flawed based on analyzing the wrong subsidiary and he doesn't need Deloitte to tell him that-- he can tell himself that.
We'll see what he does though. Maybe he'll do the right thing, pull his rating and move on with his life. Only time will tell.