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SPI Energy Co., Ltd (SPI US)

Year: 2020

Chinese renewable energy company SPI Energy listed on the NASDAQ in January 2016. Following a 12-fold share price increase in September 2020, the company was targeted by short-seller Grizzly Research in October 2020 alleging that it was a serial pump and dump, highlighting a large number of corporate governance concerns. Grizzly's report failed to prompt any director and/or auditor resignations. However, since its publication, SPI's share price has fallen over 80%, to levels similar to its price prior to its 12-fold increase in September 2020. As such, the allegations of being a pump and dump were partially proven.

Last updated July 2022.

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