Focus Media Holding Ltd refutes allegations of Muddy Waters

Note: This section contains information in English only.
Source: China.org.cn
© Scanpix/AP

Focus Media Holdings Ltd was accused by Muddy Waters of deliberately overpaying for takeovers in order to overvalue its assets. After allegations Nasdaq-listed shares of Focus Media Holdings dropped by 66 cents to $15.43 being 52-week low. However, Focus Media Holdings denies the accusations and plans to take legal action against Muddy Waters.

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Wed, 23 Nov 2011 13:47:51 GMT

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