Shanghaied by Chinese Smallcap Shengkai Innovations?

AmateurAnalyst submits:

Shanghaied: To conscript services aboard a ship by force or deception, often with the use of drugs or liquor.

It would seem as if Somalian pirates are not the only ones we have to worry about. Chinese micro caps have run aground amidst allegations of fraud. In the past, I have stood against such general claims for two companies: Keyuan Petrochemicals (KEYP) and Shengkai Innovations (VALV).

I have done my best to objectively defend Shengkai Innovations with all the evidence that a student in college could be expected to come up with and more. I have spoken with investors who structured the initial reverse merger, employees of one of the institutional investors who held large stakes in the company, and members of the current underwriter all in an attempt to verify the existence and operations reported. I wanted to make sure that I had done all that was possible to


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