Zhongwang lashes out after Dupré report author identified

China Zhongwang Holdings Ltd is on the offensive following the recent revelation that United States-based investment research firm Muddy Waters Research was the author of the widely cited Dupré Analytics report that accused the company of perpetrating a global aluminium transshipment fraud.

"China Zhongwang was shocked to learn from media reports that Muddy Waters Research claims that it was behind the publication of the July 2015 short-seller report on China Zhongwang,” a company spokeswoman told American Metal Market via email on Friday February 9.
“Muddy Waters only disclosed its duplicitous role in creating the baseless report when facing litigation that would expose its identity. The claim by Muddy Waters’ founder that he used a fictitious identity to publish the [Dupré Analytics] report because of ‘safety concerns’ is absurd and outrageous, and is merely a pretext to try to mask the integrity and the professional conduct issues involved in such an act,” she added.

The revelation was published in the Wall Street Journal late on February 8, in which Muddy Waters founder Carson Block confirmed that his company authored the report - published in 2015. The company later confirmed that it...


Kirk Maltais

February 12, 2018

01:29 GMT