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  • jlad14 jlad14 Feb 13, 2012 10:25 PM Flag

    Another amended filing

    So GS was gonna et involved with an equity stake, then they decided not to? Sounds to me they got a look at the books and ran like hell.


    Sleep tight

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    • Possibly ... Or maybe the kitchen is getting hot …

      "The Investment Bank has several highly conflicted roles in its dealing with FMCN. First, The Investment Bank is buying an equity stake in OOH and gaining direct representation on the OOH Board of Directors, despite only having a minority economic interest. Second, The Investment Bank is providing significant financing to FMCN management to subsidize the cost of their supposed investment. Finally, the Investment Bank has provided significant private banking services to Mr. Jason Jiang, including serving as an underwriter on his secondary sales of shares and serving as a counter-party on his hedging transactions. Moreover, because of what Muddy Waters believes to be the intentional scarcity and opacity of FMCN's disclosures, it is impossible to independently verify the scope of this significant conflict of interest.” ~ You can find more on this topic on pages 39 and 40 of “Muddy Waters Initiating Coverage on FMCN – Strong Sell”