Muddy Waters – Page 2 – Financial Treason & Crime

RJ Dumaual, 04 October 2018

Manulife Financial Corp. rejected a short seller’s statements that the company could lose billions of dollars if it loses a lawsuit concerning a universal life policy issued in the 1990s. Hedge fund Mosten Investment LP sued Manulife, claiming that it should be able to deposit as much capital as it can with the Canadian insurer and reap at least 4% in annual interest due to an insurance contract signed in 1997, Bloomberg News reported.

Muddy Waters Capital LLC disclosed a short position in Manulife and said in a report that the insurer is facing billions in losses, Bloomberg reported. Muddy Waters founder Carson Block expects a verdict in 2018. Holders of the policies were allowed to invest in side accounts with guaranteed rates of up to 4%, according to Canada’s Financial Post. The policies were issued at a time of high interest rates and could be profitable for firms amid a low rate environment.
Continue reading “Article: Manulife clashes with short seller Muddy Waters over lawsuit outcome”

10/06/201703/03/2021

Article: Activist short-sellers are increasingly targeting Canadian companies — is Canada ready?

Article - Media, Publications

Activist short-sellers are increasingly targeting Canadian companies — is Canada ready?

Barbara Shecter, 06 OCtober 2017

Early on the morning of May 31, San Francisco-based short-selling firm Muddy Waters LLC, best known in this country for the short report that toppled stock market darling Sino-Forest Corp. in 2011, posted a tantalizing message on the firm’s Twitter account.

“Good morning, Canada! MW is about to release a new short that we think is on its way to Zero,” the tweet read. Continue reading “Article: Activist short-sellers are increasingly targeting Canadian companies — is Canada ready?”

02/05/201103/08/2021

Article: Exposed by a Short Seller, Luckin Coffee, another Chinese Company that Defrauded US Investors, Filed for Bankruptcy in New York Today

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Exposed by a Short Seller, Luckin Coffee, another Chinese Company that Defrauded US Investors, Filed for Bankruptcy in New York Today

Wolf Richter, 05 February 2011

Luckin Coffee, a Starbucks imitator and one of many Chinese companies with no operations in the US that have their IPOs in the US and raise funds in the US, filed for Chapter 15 bankruptcy in New York today. The downfall of Luckin was triggered by short seller Carson Block of Muddy Waters that published detailed allegations on January 31, 2020, of massive fraud at the company, perpetrated at the highest levels.

By the time the Muddy Waters report came out, the company’s stock – well, American Depositary Receipt (ADR) – had skyrocketed from the IPO price of $17 a share in May 2019, to $50 a share in January 2020, giving the company a market capitalization (share price times shares outstanding) of $12.6 billion. Continue reading “Article: Exposed by a Short Seller, Luckin Coffee, another Chinese Company that Defrauded US Investors, Filed for Bankruptcy in New York Today”