Pursuits
Shorting Chinese Chicken Breeder Earns Wings for GeoInvesting
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Yuhe International Inc., a Chinese chicken breeder whose business model is based on quick turnaround, took only three days to acknowledge it had been bested by two short sellers in rural Pennsylvania.
The investors, who run GeoInvesting LLC, issued their first negative report about the firm on June 13, saying an announced acquisition of 13 breeder farms never happened and that a $12 million down payment may have been misappropriated.