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New Oriental Education (EDU) has been moving up nicely since the big dip, in part it benefited from the "Independent Investigation" carried out by their Special Committee that retained Simpson Thacher & Bartlett LLP in reviewing allegations by Muddy Waters. Simpson Thacher was "assisted" in their efforts by Ernst & Young (China) Advisory Limited and Commerce & Finance Law Offices.
I have a couple of questions and it would be greatly appreciated if someone can offer their views.
1) Is the aforementioned Ernst & Young the same one, or affiliated with Ernst & Young involved in the Sino Forest fiasco?
https://www.ctvnews.ca/business/regulator-files-allegations-against-sino-forest-auditor-ernst-young-1.1063943
2) If it is indeed the same Ernst & Young, how much of a "cockroach effect" do we have to worry about, either with respect to EDU or other companies that are audited by Ernst & Young?
Thank you.
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