Scorpion Fund has released a 330-page report accusing Lasertec Corp (TSE:6920) of being involved in one of the largest corporate frauds in Japanese history, with a market cap of $23 billion and significant average daily volume. The report, available in both English and Japanese, alleges that Lasertec has engaged in improper accounting practices and other fraudulent activities. Lasertec has responded with a brief statement denying the allegations. Scorpion Fund, an active short seller, claims to have extensive evidence supporting their accusations.
Lasertec $6920 (Tokyo) finally issued an absurd, one-sentence reply to our report - “we clearly deny the allegations of improper accounting practices.” We provided 330 pages of extensive evidence to the contrary, far beyond just accounting fraud. We suggest that they start with… https://t.co/VcY9L5Kxz6
A bit too busy this week to dig into details, and I can’t vouch for anything, but a purported accounting fraud in a Japanese semiconductor manufacturing equipment company is just too my beat to not point to: https://t.co/Cz1evVd5Gz
There is a financial incentive here given that @ScorpionFund is an active short seller. We have seen this rodeo before. They will oversell the news even though the news may be short-term impactful. Whatever it is, corporate fraud is loved by those who benefit. https://t.co/2YQsyPOHmR
Ouu interesting, Lasertec short report https://t.co/u3RVipoq6e
1/[Full thread] We are short Lasertec Corp (TSE:6920) $6920, one of the largest corporate frauds in Japanese history ($23B market cap) and easily the largest outright fraud in the world by average daily volume. 330 page presentation now live in English and Japanese at… https://t.co/X3cbq6oSej
We are short Lasertec Corp (TSE:6920) $6920, one of the largest corporate frauds in Japanese history ($23B market cap) and easily the largest outright fraud in the world by average daily volume. 330 page presentation now live in English and Japanese at https://t.co/Osxq0mAPTd:… https://t.co/R438xU12rn
We are short Lasertec Corp (TSE:6920), one of the largest corporate frauds in Japanese history ($23B market cap) and easily the largest outright fraud in the world by average daily volume. 330 page presentation now live in English and Japanese at https://t.co/Osxq0mAPTd:… https://t.co/fIamzgHcPJ
We will shortly expose the largest corporate fraud on earth. 5 month investigation. Stay tuned.