Bloomberg News

Spreadtrum Denies Muddy Waters Allegations About Its Accounting

June 29, 2011

June 29 (Bloomberg) -- Spreadtrum Communications Inc., the latest Chinese company questioned by short-seller Muddy Waters LLC over its accounting, denied allegations the Chinese chip designer may have misstated financial results.

“Their questions do not have any basis,” Shannon Gao, chief financial officer at Shanghai-based Spreadtrum, said in a phone interview today. Spreadtrum’s auditor, PricewaterhouseCoopers, “showed strong support for us,” Gao said.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net


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