A Chinese Netflix Faces SEC Probe After Short-Seller Report

By Chong Koh Ping Close Chong Koh Ping Aug. 14, 2020 4:37 am ET China’s iQiyi Inc., IQ -2.43% a Netflix-like video-streaming company, said it was under investigation by the U.S. Securities and Exchange Commission, sending its shares plunging 12% in after-hours trading.

On Thursday, iQiyi said the U.S. regulator had asked for financial and operating records from January 2018 onward, and documents tied to acquisitions and investments cited by Wolfpack. iQiyi said it had also hired professional advisers to conduct an internal review, and they were examining the report’s key allegations.

In April, iQiyi said the Wolfpack report contained “numerous errors, unsubstantiated statements and misleading conclusions and interpretations,” and it was committed to high standards of governance and internal controls. Luckin’s finances had been questioned in research published by short sellers. Short-selling investors seek to profit from a declining stock. They do this by selling borrowed shares, hoping to buy them back at a lower price later and to pocket the difference.

SEC should investigate all Chinese companies listed in US stock market.

Is this the same SEC that refuses to investigate any Trump associate, or any companies associated with Trump like Kodak, for insider trading? I wouldn't be surprised if SEC had put money in efforts to expand Chinese concentration camps.

Just look at luckin

between social media & our governments, I don't know which I'm talking to when I'm ranting out loud about the latest conspiracy while my pug wheezes a beat in the background.

Biden=China=Nazi

Should kick them all out

🇨🇳 China listing companies alway SCAM.

And?

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