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.
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.
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.
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.
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.
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.