Spreadtrum Says Muddy Waters Doubts on Results Are ‘Baseless’

Spreadtrum Communications Inc., the Chinese chip designer questioned by short-seller Muddy Waters LLC over its accounting, said a report suggesting it misstated financial results is groundless.

“Our performance is very solid,” Leo Li, the chief executive officer, chairman and president of the Shanghai-based company, said in an interview in his office today. “The allegations, none of them are true.”