Telestone Technologies (TSTC) Slammed On Fraud Allegations
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Shares of Telestone Technologies (Nasdaq: TSTC) have now fallen 17 percent following a negative report discussing the company as a China stock fraud at Zerohedge.com:
According to the report from The Forensic Factor:
"While TFF is not calling Telestone a fraud (that is for regulators and class action lawyers to determine), we do believe that Telestone's recent capital raise was completed under the auspices of misleading information, as well as a blatant lack of disclosure replete with forensic discrepancies. As investors undoubtedly learned from RINO, which was halted for three weeks and declined nearly 85%, in the land of Chinese reverse mergers, appearances are not always what they seem."
According to the report from The Forensic Factor:
"While TFF is not calling Telestone a fraud (that is for regulators and class action lawyers to determine), we do believe that Telestone's recent capital raise was completed under the auspices of misleading information, as well as a blatant lack of disclosure replete with forensic discrepancies. As investors undoubtedly learned from RINO, which was halted for three weeks and declined nearly 85%, in the land of Chinese reverse mergers, appearances are not always what they seem."
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