OTCPK:TOUBF - Post by User
Post by
jamesb14on Jun 08, 2011 11:44pm
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Post# 18691073
Guilty until proven innocent?
Guilty until proven innocent?'m captivated by this saga with Sino Forest. You can tell an innocent party by how vehemently they defend themselves. In this case Sino Forest has hired PWC, they've issued documents refuting the most serious allegations with more to follow, they've contacted the securities commissions to lodge complaints, they've provided access to the plantations of analysts' chosing, they're suing this fellow behind Muddy Waters, etc, etc. Guilty parties either go on the attack or run for the exits.
So with all TRE has going for them - a spirited defense, a stellar board of directors, E&Y as its auditors, a listing on the TSX, the most famous hedge fund manager as its largest shareholder - how does an unknown guy with discredited 'evidence' have power to decimate the share value of a multi-billion dollar company? And you've got to question why a guy with few resources picked Sino Forest in the first place. Is it the mistaken ability to 'find' what he was looking for or was this his plan all along?