Chinese education company Global Education Technology Group (GEDU) listed on the NASDAQ in October 2010. In November 2011, the company announced that it would be bought by Pearson PLC (PSON LN) for US$294m. A few days later, in December, the SEC filed an emergency court order to freeze the US brokerage accounts of four Chinese citizens accused of insider trading relating to the transaction. A number of the accounts were connected to GEDU's management. Short-seller Absaroka Capital published a report stating that Pearson should cancel the deal given the fraud committed by US listed Chinese companies. The deal went ahead.

Last updated March 2022

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