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  "documentTitle": "China MediaExpress Holdings (CCME)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2011-03-02 00:00:00",
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  "notes": "This is a research note from Muddy Waters regarding China MediaExpress Holdings, Inc. (CCME).",
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      "text": "Muddy Waters, LLC has amassed irrefutable evidence that China MediaExpress Holdings, Inc. (\"CCME\") is a substantial fraud, and that management is engaging in a cover-up replete with further dissemination of fraudulent information.",
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      "text": "CCME has fewer than half of the buses it claims; and its largest purported contract (with Shanghai Ba Shi for 1,892 buses) does not exist. The number of buses for Shanghai-based operators in the presentation matches the number in the spreadsheet we received – 296.",
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      "text": "CCME has been doubling the number of buses on which it has installed equipment for purposes of its SEC filings; and CCME replaced recently replaced the salesperson’s hard drive due to the increased scrutiny.",
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      "text": "fair value: $3.54",
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      "text": "We document that in the course of rebutting our Report, Chairman Cheng provided fabricated information. In Chairman Cheng’s February 7, 2011 letter (the “Chairman’s Letter”), Chairman Cheng challenged our assertion that CCME’s largest purported contract does not exist.",
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      "text": "If one questions whether it is Muddy Waters, LLC – and not CCME – that has fabricated information and documents, we point out the following. Our research director and sole member manager, Carson Block, is a United States citizen...",
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