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Shanghai Pharmaceutical Co., Ltd. Faces Media Charges of Accounting Fraud



5/24/2012 7:36:16 AM

by Richard Daverman, PhD

May 23, 2012 -- The stock price of Shanghai Pharmaceuticals suffered large losses after media reports alleged the company had committed accounting fraud. The reports, carried by the 21st Century Business Herald, said Shanghai Pharma was under investigation for fraudulent accounting of two M&A transactions. Shanghai Pharma denied that it was under investigation by either the Shanghai or the Hong Kong exchange. The company also denied that its accounting was faulty. More details....

Stock Symbols: (SHA: 601607; HK: 2607)


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