Chinese social platform Joyy listed on the NASDAQ in November 2012. In November 2020, it was targeted by short-seller Muddy Waters alleging that the chairman had embezzled funds and that the company was faking the majority of its revenues and profits which were being parked in large fake cash balances. The report failed to prompt any auditor (PwC) or director resignations and, as such, the fraud allegations were not proven. 

Last updated July 2022.

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