PWC insider trading

[roxron9]

Anyone of the view that someone out of PWC is involved in getting audit delayed deadline after deadline for his/ her own benefit.

Stock went from $25 to $4, still the short interest is so high ? Does that make sense, given we all know the audit scope expansion is about 2013 and not 2011 or 2012, I.e chances of a fraud are close to zero?

[gaosl11]

Anyone of the view that someone out of PWC is involved in getting audit delayed deadline after deadline for his/ her own benefit.

Stock went from $25 to $4, still the short interest is so high ? Does that make sense, given we all know the audit scope expansion is about 2013 and not 2011 or 2012, I.e chances of a fraud are close to zero?

insider trading - i don't think it's possible.

someone leak insider information - maybe.

audit scope expansion is about 2013.- i think people has confusion about this scope expansion. The audit work is to audit content of 2013 financial statement and there will be no more of that from very begining.  It has nothing to do with chances of fraud

[Haggerston]

At this stage I don't think it's about fraud but rather what will this drawn out process do to the share price and if there's a chance they will get delisted, if they don't get it sorted in time. NQ may survive but will we still be around.

[roxron9]

Not sure why is it not possible ?

The money involved is huge, given what an auditor can earn in his/her whole life span. We all know what happened in Herbalife.

Either PWC employees are dumb, to not have decided on the scope of the work given they are on the case for almost 9 months now or there is more than what hits the eye.

As per my understanding what PWC is doing is unethical and unprofessional. Am sure they were very much aware of the capital market implications of their actions.

Essentially to me it seems like they are puting random requests to NQ, a new request every 2 months without any finish line commitement. This process can keep going on and someone is making a lot of money with these delays. Their seems to be a deliberate attempt to delay.

[avunculus]

That's how I feel too. I have been wondering who can oversee the accouting firm if their practice is questionable. They are like the God to their clients. For the NQ case, PwC keeps asking for more chargable working hours and can't find any wrongdoings while refusing to sign off and holding up the client in jeopardy. Those ppl in PwC US should be subject to investigation.

Not sure why is it not possible ?

The money involved is huge, given what an auditor can earn in his/her whole life span. We all know what happened in Herbalife.

Either PWC employees are dumb, to not have decided on the scope of the work given they are on the case for almost 9 months now or there is more than what hits the eye.

As per my understanding what PWC is doing is unethical and unprofessional. Am sure they were very much aware of the capital market implications of their actions.

Essentially to me it seems like they are puting random requests to NQ, a new request every 2 months without any finish line commitement. This process can keep going on and someone is making a lot of money with these delays. Their seems to be a deliberate attempt to delay.

[roxron9]

Wow. Auditor asking you to produce multiple third party original bank statements ? Haven't heard this one.

PWC stinks of insider trading/ or doing favor to someone.

This is a big blow to their reputation in China.

Wolves of wallstreet in action !

[TrueValueSeeker]

Wow. Auditor asking you to produce multiple third party original bank statements ? Haven't heard this one.

PWC stinks of insider trading/ or doing favor to someone.

This is a big blow to their reputation in China.

Wolves of wallstreet in action !

I suspect PWC is an insider for short sellers from the beginning. NQ management does not relaized that until there are too many unreasonable requests from PWC. PWCs asks mutiple third party for the original bank statements and financial records. Who are these third partys - China Mobiles, China Unicom, Sprint, Huwei etc.These third partys are very large companies. If NQ asks them to do all these auditing  for fraud investigation and NQ is just a very small company to them, it will kill business partnerships with them. And PWC should knows

that from beginning.

[StrongHand]

From the short interest, you can see how confident shorts have. Without PWC US, where the shorts' confidence come from?

[avunculus]

exactly: steep fall a few days before 4 June, big spike right after it, a big fall again on 1 July right before the false rumor that 20F was ready, and rise again before 3 July, the catastrophe PR. The shorts certainly knew sth from inside to manipulate the SP so well.

From the short interest, you can see how confident shorts have. Without PWC US, where the shorts' confidence come from?

[Banco_Central_de_Costa_Rica]

shorts were on the offer all day Friday.. maybe they expected the different result but were not afraid to short all day from open to close.