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Thursday, 05/05/2011 11:55:48 PM

Thursday, May 05, 2011 11:55:48 PM

Post# of 151
Glickenhaus Says Shorts 'Blatantly Lied' in China Agritech Report, According to Bloomberg
Posted April 27, 2011 4:54PM PST
Glickenhaus & Co., a New York asset management firm that invested $4 million in embattled China Agritech, has said it may take action against short sellers it alleges drove stock prices down by communicating false information about the Chinese fertilizer producer, according to Bloomberg.


Trading in China Agritech was halted by Nasdaq on March 14 when shares were $6.88. Glickenhaus is not the only institutional investor holding a position in China Agritech. The Carlye Group holds 22% of the company, according to the article.

Equity research firm Lucas McGee Research alleged in a February report that China Agritech was a fraud. Glickenhaus took exception to the report and actually sent a member of the firm on a three-day tour of company facilities. After returning to the states, Jesse Glickenhaus filed a report regarding his visit, disputing the claims made in the Lucas McGee report.

Source: News Article, Glickenhaus Report




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