Replies to post #777 on IT Tech Packaging Inc (ITP)

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I do wish the SEC would file charges against Block. You can call it whatever you want, but everything he has done is unethical. I've been watching his story since day one of last year. You know the old saying, "The bigger they are, the harder they cry." LOL

Thanks for keeping us informed even if it was a hoax. Let us know anything else you find out.

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I found this article quite intriguing.
And that SEC hoax was quite the story today...Now you can see how Shorts can just say a lie and people believe it!

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/06/20/bloomberg1376-LN30P80YHQ0X01-1O51C15QH57J1464TDBM74I953.DTL

Here's the excerpt I like from this article...

Chinese companies "should conduct the third-party independent investigation like we did, they should do it even better than us in order to shut others' mouths," Liu Zhenyong, Chairman and Chief Executive Officer of Baoding, Hebei-based Orient Paper, said yesterday in a phone interview. Liu said he is considering legal action against Muddy Waters.

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Hey Joev2,

I just received this from the CFO of ONP. I wrote and told them they need to bring legal action against Muddy Waters. Here's his response:



We have one shareholder class action lawsuit, which was filed in August 2010 by 3 individual investors with a total loss of about $150,000. We filed a motion to dismiss with the court and is waiting for the judge to hear the case.



Unfortunately, because of the pending class action lawsuit, our attorneys strongly advise that we do not to consider legal action against Muddy Waters until after the class action is dismissed. We will keep the public updated with the development of the legal matters. It’d be inappropriate for me to discuss the legal strategy publicly at this time.



We feel for your pain and thank you for your continued support for Orient Paper Inc. We are still working on something to fight the abuses by Muddy Waters. We will keep the investors updated.



Regards,


Winston Yen, CPA
CFO
Orient Paper, Inc.
AMEX: ONP