CCME - I've read the report through and through, I think a full-on, point-by-point rebuttal is going to be essential here. And pronto. CNY new year is over as far as I'm concerned. To management: get off your f-cking ass and fix this 100% immediately.
My fear here is that at a minimum CCME has told at least a few lies about the business. That's my fear, if I'm being fully honest. I'm not saying it's true, but that's my fear. In that scenario, I think this will be probably be fixed in ONP style, but the problem is that the risk premium will have to skyrocket. Bear in mind that the stock is still higher than it was before the market knew anything about these MW claims.
CCME needs to mount a full-on front here, they need to come out with guns blazing, an immediate defamation lawsuit against MW, Citron, and every fund that was short this effort. Have Ernst and Young Hua Ming audit them as well for 2010. Give us a point by point rebuttal, the absolute works. Fuck it, if you're real, you have to fight this tooth and nail to the death, pay whatever amount of money you have to, otherwise innocent shareholders will pay the consequences.
I've got a sick feeling right now. Uggh. At a minimum the MW scumbags selectively tipped off their pals with puts to get a huge payday. The SEC absolutely *has* to investigate this. There is no difference between MW tipping off a fund about a coming hit in this space and the WSJ tipping off a fund about a coming negative or positive article--and bear in mind that people in the USA have actually done prison time for the latter.
AI
