China Growth Stocks

[GorillaGorilla]

NEP - Bruce was responsible was the Director and Audit Committee Chair - when the auditing showed a number of deficiencies [2] - they read like technical mistakes not fraud. Either way this guy failed to do his job and his position was untenable.

Should they have sacked him immediately or should they have kept him around while they worked through the auditing again? They decided to keep him around but his idea of forensically auditing previous years accounts even though, if we are to believe the other Directors letter, 2009 were fine smacks of self-preservation and not in shareholders interests.

Actually looking forward to the 10-K now - I didn't expect to be thinking that!

rich

[1] http://people.forbes.com/profile/robert-c-bruce/18749

[2] http://biz.yahoo.com/e/100308/nep8-k_a.html