Juice Co. SkyPeople Slaps Short Seller With Libel Suit

Law360, New York (July 8, 2011, 3:35 PM EDT) -- SkyPeople Fruit Juice Inc. filed a suit Thursday in Wyoming claiming an investment manager spread phony fraud rumors in order to cash in on a short position in the Chinese fruit juice maker’s stock.

Absaroka Capital Management circulated a defamatory report claiming that SkyPeople overstated its value in public filings and is actually a small fraction of the size it purports to be, driving down the company’s stock and profiting on the decline, according to the complaint.

While the June 1 report on SkyPeople sounded the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.