Muddy Waters LLC Rates Duoyuan Global Water (DGW) "Strong Sell"

Muddy Waters LLC initiated coverage on Duoyuan Global Water Inc. (AMEX: DGW) with a Strong Sell rating and an estimated value of less than $1.00.

The firm estimates the company has actual revenue of no greater than US$800,000 annually, versus the US$154.4 million it claims. In addition, Muddy Waters said it caught DGW red handed forging its PRC audit report.

Link to the full report

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