Bloomberg News

Muddy Waters Report ‘Untrue, Baseless,’ Spreadtrum Chairman Says

June 29, 2011

June 29 (Bloomberg) -- Spreadtrum Communications Inc., the Chinese chip designer questioned by short-seller Muddy Waters LLC over its accounting, said a report suggesting it misstated financial results is “untrue” and “baseless.”

“Our performance is very solid,” Leo Li, the chief executive officer, chairman and president of the Shanghai-based company, said in an interview in his office today. “The allegations, none of them, are true.”

--Helen Yuan

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