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 Tracking 1271 U.S. listed China Stocks and Counting...
 Tracking 3167 U.S. Stocks and Counting...

GeoTeam Responds to SCEI Intentions to Take Legal Actions Against GeoInvesting

Thursday, May 5, 2011, 11:35 AM ET -

Dear GeoInvesting Members,

This morning Sino Clean Energy (“SCEI”) announced that it intends to bring legal action against GeoInvesting for what it claims to be malicious and fraudulent attacks on SCEI which were alleged to be orchestrated and conducted by or on behalf of other short sellers.

SCEI also charges that we have engaged in naked short selling activities stating, “Company believes that the short sellers seek to accomplish this goal by spreading fabricated market information and rumors.”

GeoInvesting will not be intimidated by threats of legal action by companies such as SCEI.  Nor will we cease in our quest to expose companies that we believe have fraudulently abused capital markets to take advantage of U.S. investors who have put their trust in these companies and their representatives.

We carefully read the SCEI rebuttal letter.  We have found what we believe to be several significant misrepresentations that support and strengthen our original findings.  We intend to discuss our findings later today.  We have also contacted relevant PRC authorities and will be supplying our evidence to SCEI’s auditor and relevant U.S. regulatory authorities.

We remain short SCEI via puts.

SCEI’s allegations insinuating that we have taken part in naked short selling activities are false.

We look forward to our day in court with Chairman Ren and his US representatives.




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