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 More govt. meddlimg: US SEC sues AutoChina for alleged stock manipulation

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More govt. meddlimg: US SEC sues AutoChina for alleged stock manipulation Vide
PostSubject: More govt. meddlimg: US SEC sues AutoChina for alleged stock manipulation   More govt. meddlimg: US SEC sues AutoChina for alleged stock manipulation Icon_minitimeThu Apr 12, 2012 4:12 am
The US Securities and Exchange Commission (SEC) has sued AutoChina International and 11 investors over alleged stock manipulation.

More govt. meddlimg: US SEC sues AutoChina for alleged stock manipulation 5961261582880363



They have been accused of unlawfully buying and selling shares in a bid to artificially inflate trading figures so the company could gain "favourable loan terms".

AutoChina says it is the country's biggest commercial vehicle sales and leasing firm.

The company has denied the charges.

It said that the SEC's allegations were "without merit".

"The company intends to defend against the claims vigorously and believes that all of the evidence it is aware of contradicts the SEC's allegations," the firm said in a statement.

http://www.bbc.co.uk/news/business-17686071
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