Muddy Waters Plans More Research on Sino-Forest, Block Says
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Carson Block, the short seller whose assertions of financial manipulation by Sino-Forest Corp. preceded a 71 percent plunge in the forestry company’s shares last week, said he will release more research “pretty soon.”
He will address Sino-Forest’s 2010 purchase of engineered-wood products company Homix Ltd. and the company’s majority stake in Greenheart Group Ltd. Sino-Forest said Block’s statements are false and that it’s studying its legal options. It appointed PricewaterhouseCoopers to assist with its investigations of allegations by Block’s Muddy Waters Research.