Allen Chan News
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At a benefit for pediatric cancer care in London three weeks ago, Carson Block, the 36-year-old short seller whose research helped erase almost $7 billion of market value in China since 2010, unveiled his latest theory.
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Nothing ruins a chief executive officer’s year faster than hearing the name Carson Block.
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Olam International Ltd. slumped the most in six months in Singapore trading after short-seller Carson Block questioned the agricultural commodity trader’s accounting methods.
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Olam International Ltd., the agricultural commodities trader part-owned by Singapore’s state investment company, plunged the most in four years in U.S. trading after short-seller Carson Block questioned the company’s accounting methods.
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Carson Block’s comments questioning Olam International Ltd.’s accounting practices, which prompted the biggest plunge in its New York stock in four years, were part of a concerted short-selling attack, the agriculture trader’s chief executive officer said.
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Allen Chan’s resignation as chief executive officer of Sino-Forest Corp., which is accused of exaggerating timber holdings, marks the second time in 22 years the Chinese entrepreneur has lost control of a company he founded.
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Sino-Forest Corp. Chief Executive Officer Allen Chan is considering temporarily stepping down after the Ontario Securities Commission halted trading in the company’s shares, a person familiar with the situation said.
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Sino-Forest Corp.’s Chief Executive Officer and Chairman Allen Chan resigned two days after a Canadian securities regulator said the company may have exaggerated timber holdings, the same charge made by short seller Carson Block in June.
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Sino-Forest Corp. Chief Executive Officer Allen Chan said accusations made against the forestry company by short-seller Carson Block are “false, unjustified and unfair,” the Globe and Mail reported.
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Sino-Forest Corp., the Chinese tree plantation company that’s fending off fraud allegations, said Allen Chan resigned from the company he co-founded in 1992.
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