Sino-Forest Shares Plunge Despite Assurances

Forest

First Posted: 06/15/11 08:58 AM ET Updated: 08/15/11 06:12 AM ET

Financial Post:

So far, investors aren't buying it. Sino-Forest Corp. made its most aggressive effort yet to reject allegations of fraud on Tuesday, telling a packed conference call there is no truth to Carson Block's explosive claims. Chief executive Allen Chan said he remains steadfast in the long-term value and growth prospects of his company. "It pains me to see a company that I have successfully built over the past 17 years maliciously attacked by a self-serving short seller who stands to reap significant gains," Mr. Chan said.

Read the whole story: Financial Post

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Filed by Kenny Yum  |