Chinese nutrient provider Yongye International listed by means of a 2008 reverse merger, upgrading to the NASDAQ in September 2009. Between February and December 2011, the company was targeted by three short-sellers alleging fraud. This resulted in a halving of the share price although it subsequently recovered, possibly on rumours that it was to be privatised. In March 2013, Yongye announced that its results would be delayed owing to some accounting issues. Shortly thereafter, the NASDAQ suspended trading until Yongye had fully satisfied its request for additional information. In September, Yongye announced it was to be taken private by management, Morgan Stanley and Full Alliance. The company's financials had traits similar to past frauds although the allegations were never proven. 

Last updated March 2022

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