Hong Kong Stock Plunges 20% as Short-Seller Questions Accounting
- Stock falls as much as 20% before trading halted in Hong Kong
- Short-seller Glaucus Research questions company’s accounting
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CT Environmental Group Ltd. shares fell in Hong Kong before it suspended trading as the activist short-seller Glaucus Research Group questioned the company’s accounting.
The Chinese wastewater company’s shares dropped as much as 20 percent, the most intraday since July 2015, after Glaucus published a 52-page report questioning CT Environmental’s reported wastewater treatment volumes and some recent transactions.