RINO International (RINO) Continues Free-Fall On Allegations
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After falling 15 percent yesterday on a negative research report from Muddy Waters, RINO International Corporation (Nasdaq: RINO) is down another 9 percent in pre-open action after the company failed to reassure investors.
Muddy Waters made allegations of revenue shortfalls and claims there are serious accounting flaws.
The company commented on the allegation in a press release today, but didn't have a Q&A session on its conference call.
The company stated, "RINO takes its responsibilities to investors very seriously and has launched an internal review of Muddy Waters' allegations. RINO looks forward to providing investors with a timely and detailed response to the allegations upon completion of its internal review."
Muddy Waters made allegations of revenue shortfalls and claims there are serious accounting flaws.
The company commented on the allegation in a press release today, but didn't have a Q&A session on its conference call.
The company stated, "RINO takes its responsibilities to investors very seriously and has launched an internal review of Muddy Waters' allegations. RINO looks forward to providing investors with a timely and detailed response to the allegations upon completion of its internal review."
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