Muddy Waters has filed a lawsuit in a U.S. court, alleging a fake press release defamed it and saying an imposter claiming to work for the research firm had tried to blackmail a company for $2 million to withhold a damning report, those fine folks at CNBC write.
Hong Kong-based Muddy Waters and its director of research Carson Block have shot to prominence in recent weeks after issuing research reports alleging accounting irregularities against over half-a-dozen Chinese companies listed in North America, driving down their stock prices.
The lawsuit, naming Muddy Waters and Block as plaintiffs and filed with the Los Angeles Superior Court on July 20, alleges that an individual in Hong Kong impersonated himself as an employee of Muddy Waters and issued threats to an unnamed company. The individual, whose identity is unknown, allegedly blackmailed the company seeking $2 million in exchange for holding back a research report….
Muddy Waters separately claimed that a June 21 press release stating that the U.S. Securities and Exchange Commission had charged Muddy Waters and Block with fraud, and alleged Block was involved in market manipulation schemes issued on free news wire service BriefingWire.com was defamatory in nature and was issued with malice...
Find out the rest at http://www.cnbc.com/id/43851235
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