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In the Wednesday trading, NetQin shares rose about 30%

Source: Internet
Author: User
Keywords The Net Qin investigation result muddy water short
Tags .net balance behavior business company market market share net
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Time of June 4 Evening News, the Network Qin (NYSE:NQ) today announced the independent Special Committee of the Company's murky water (Muddy Waters) The results of the short report.

Muddy Waters released last October 24 reported that the NetQin in its market share, product safety, balance sheet, business acquisition and other aspects of fraud or fabricated behavior. NetQin convened a conference call on October 25 to counterattack and set up an independent special committee to investigate the matter.

November 1, the Network Qin announced the employment of law firms Shearman & Sterling to launch an independent investigation, and Shearman & Sterling also hired Deloitte accounting firm as a financial advisor.

Network Qin said today, the independent Special Committee's findings show that the Network Qin no muddy water allegations of fraud. There is no evidence that NetQin's revenue and cash volumes do not match the earnings figures.

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