CCME: Accusations About Inability of Deloitte as Auditor Debunked, SEC Filings Correct

Jae Jun submits:

I understand that shorts have to exist in the market to balance the equation, and let me first say that after having read The Art of Short Selling thoroughly a couple of times, I have the utmost respect for fundamental short sellers such as Kathryn Staley, Jim Chanos and David Einhorn.

China MediaExpress (CCME) is a Chinese company that I currently hold and is currently under heavy scrutiny as a fraud. Reports by boutiques specializing on shorts have been released, and while I must give credit to Muddy Waters for the work they have put in to their report, the main argument of the shorters report is that the numbers are too good to be true.

But Im going to present a case for at least why the SEC filings are accurate.

Independent Auditor Required

The role of an independent auditor is crucial in protecting investors from dishonest management and


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