海归网首页   海归宣言   导航   博客   广告位价格  
海归论坛首页 会员列表 
收 藏 夹 
论坛帮助 
登录 | 登录并检查站内短信 | 个人设置 论坛首页 |  排行榜  |  在线私聊 |  专题 | 版规 | 搜索  | RSS  | 注册 | 活动日历
主题: 中国公司海外上市系列:Threats, Lies and Chinese Stocks(转帖)
回复主题   printer-friendly view    海归论坛首页 -> 海归商务           焦点讨论 | 精华区 | 嘉宾沙龙 | 白领丽人沙龙
  阅读上一个主题 :: 阅读下一个主题
作者 中国公司海外上市系列:Threats, Lies and Chinese Stocks(转帖)   
安普若
[博客]
[个人文集]




头衔: 海归元勋

头衔: 海归元勋
声望: 大师
性别: 性别:男
加入时间: 2004/02/21
文章: 26038
来自: 中国美国的飞机上
海归分: 4196257





文章标题: 中国公司海外上市系列:Threats, Lies and Chinese Stocks(转帖) (7805 reads)      时间: 2012-1-30 周一, 02:24   

作者:安普若海归商务 发贴, 来自【海归网】 http://www.haiguinet.com

Feature | SATURDAY, JANUARY 28, 2012

Threats, Lies and Chinese Stocks

By BILL ALPERT | MORE ARTICLES BY AUTHOR
Reverse-merger stocks may be mostly an unhappy memory, but the recriminations are very real. Here's the latest.


Hundreds of Chinese businesses that became U.S.-listed stocks through a maneuver called a "reverse merger" now languish at penny-stock levels, down from tens of billions of dollars in aggregate market value a few years ago. Who's to blame? Ugly accusations abound.

The wind-power vendor CleanTech Innovations (ticker: CTEK.Pink Sheets) went to court in December complaining that Nasdaq delisted the company after CleanTech's financial advisor was mentioned in a purportedly "anti-China" story in Barron's ("Beware This Chinese Export," Aug. 28, 2010). A LiaoNing Province agency wrote the U.S. Commerce Department early this month and said CleanTech's delisting was "racially motivated," a charge Nasdaq has denied. Then, on Wednesday, Federal Bureau of Investigation agents raided the home and Wall Street office of CleanTech's advisor, Benjamin Wey, and carted away boxes of evidence for an investigation that federal prosecutors won't discuss. Barron's couldn't reach Wey or his firm, New York Global Group.

Separately, a Vancouver, B.C.-based operator of silver mines in China named Silvercorp metals (SVM) said in December that Chinese law-enforcement agents had opened a criminal investigation to identify the anonymous shortsellers who called Silvercorp a fraud in reports published under the pseudonym "Alfred Little" (www.alfredlittle.com). The silver company says it has spent millions on investigations, and on a Website (www.silvercorpfightsshortanddistort.com) and libel suit filed in September in New York State Supreme Court in Manhattan.

Martin Kozlowski for Barron's
Benjamin Wey's firm assisted Chinese businesses in getting U.S. stock-market listings. The FBI raided his home and his office last week.

An affidavit filed by "Alfred Little" asked the court for permission to proceed anonymously "as a matter of personal safety" and because of threats and beatings allegedly suffered by Little's investment researchers and lawyers in China. But on Jan. 9, Silvercorp amended its complaint to allege that announcements submitted by "Alfred Little" to the information disseminator PR Newswire had been authorized and paid for by the 72-year old mother of the research director at Eos Holdings, a Vancouver investment firm. Silvercorp added the Eos researcher Zane Heilig and Eos founder and boss Jon R. Carnes to the list of libel defendants.

China finance experts said they were surprised Carnes was accused of being behind the "Alfred Little" short reports. Starting in 2004, Carnes and his Eos fund invested in private placements of a dozen U.S.-listed China companies, including Sinoenergy and SkyPeople Fruit Juice (SPU). "Jon is one of the most experienced Western people in China that I know," says Drew Bernstein, a partner at the accounting firm Marcum Bernstein & Pinchuk, who once shared Beijing office space with Carnes. Bernstein says he's been told that most of Carnes' employees in China have been jailed and that Carnes is extremely worried for them. In an e-mail Tuesday, Carnes said, "I am just not able to comment on any of this."

Meanwhile, the New York lawyer appearing for "Alfred Little" in Manhattan state court, Martin Garbus, says that his client remains unidentified. He's also representing "Little" against two other libel suits in the same court, brought by the China-based companies Deer Consumer Products (DEER) and Sino Clean Energy (SCEI). Garbus argues that the First Amendment protects his client's speech and anonymity. "These companies are based in places where they have a good deal of leverage," says Garbus. "People are getting beaten up and jailed."

The affidavit filed in September by "Alfred Little" in the Deer case says that lawyers hired to retrieve public records in China told him of being attacked. One was run off the road in October 2010 after obtaining a company's tax records. After pistol-whipping him, his assailants demanded the true name of Alfred Little, then told the lawyer to stop his investigation, claims the affidavit.

According to its Website, Eos "refocused" its investments on North America in January 2011 and in June it liquidated the fund and returned remaining cash to investors "due to the poor performance of our investments."

Silvercorp, Deer and Sino Clean fervidly deny the fraud allegations of the Alfred Little reports and say those reports were part of a manipulative "short and distort" scheme to drive down their shares. Asked about allegations of harassment in China, Silvercorp's lawyer in New York, Roger R. Crane, Jr., said, "The courts will decide."

OTHER SHORT INVESTORS WHO HAVE published reports alleging fraud have signed their names. Kevin Barnes and his Cheyenne, Wyo., fund Absaroka Capital are being sued in Cheyenne's federal court by SkyPeople Fruit Juice. Denying that his report was defamatory and counterclaiming for libel against SkyPeople (claims the company denies), Barnes filed affidavits by lawyers in China claiming that key pages of SkyPeople's government filings were suspiciously missing. Another affidavit from a Chinese attorney engaged by Barnes' lawyers at the U.S. firm Akin Gump alleged that he got a threatening phone call after examining tax filings of a SkyPeople subsidiary at another government office. In an e-mailed statement, Barnes said Absaroka will continue expressing opinions about publicly traded companies. "Sunlight and transparency are the best solution for the Chinese fraudcap (sic) problem that has infected U.S. capital markets," he wrote.

Peter Siris, a longtime investor in China through his Guerrilla Capital, laments that all U.S.-listed China small caps are being tarred with the bears' brush. "Some of these companies are great companies," Siris says. "Now the companies feel frustrated, the investors feel frustrated and…it's just sad."


https://online.barrons.com/article/SB50001424052748703512004577182970380129522.html?mod=BOL_hpp_mag

作者:安普若海归商务 发贴, 来自【海归网】 http://www.haiguinet.com









相关主题
中国公司海外上市系列:TSX developing its cleante... 海归主坛 2009-9-12 周六, 06:01
中国公司海外上市系列:“10号文”曲折 (转帖) 海归主坛 2009-3-05 周四, 09:50
中国公司海外上市系列:Investment banks on mainla... 海归论坛 2004-4-30 周五, 03:47
中国公司海外上市系列:中概股“看门人”受调查(转帖) 海归商务 2012-12-07 周五, 23:09
中国公司海外上市系列:香港证监会雄起 面对国家机密挡箭牌 坚持要求财务资料... 海归商务 2012-8-30 周四, 00:35
中国公司海外上市系列:中概股遭“猎杀”细节曝光 两大机构成主谋 (转帖) 海归商务 2012-1-30 周一, 00:28
中国公司海外上市系列:中国公司起诉纳斯达克交易所 索赔3亿美元 (转帖) 海归商务 2012-1-24 周二, 08:14
中国公司海外上市系列:新濠国际:澳门赌王内地产业链雪崩 (转帖) 海归商务 2012-1-23 周一, 13:06

返回顶端
阅读会员资料 安普若离线  发送站内短信 发送电子邮件 浏览发表者的主页 QQ号码什么是QQ号码? MSN
  • 中国公司海外上市系列:Threats, Lies and Chinese Stocks(转帖) -- 安普若 - (6484 Byte) 2012-1-30 周一, 02:24 (7805 reads)
显示文章:     
回复主题   printer-friendly view    海归论坛首页 -> 海归商务           焦点讨论 | 精华区 | 嘉宾沙龙 | 白领丽人沙龙 所有的时间均为 北京时间


 
论坛转跳:   
不能在本论坛发表新主题, 不能回复主题, 不能编辑自己的文章, 不能删除自己的文章, 不能发表投票, 您 不可以 发表活动帖子在本论坛, 不能添加附件不能下载文件, 
   热门标签 更多...
   论坛精华荟萃 更多...
   博客热门文章 更多...


海归网二次开发,based on phpbb
Copyright © 2005-2024 Haiguinet.com. All rights reserved.