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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal

Olam turns to courts in battle with Muddy Waters

Posted on 22 November 2012

Singapore commodities trader Olam International Ltd took its battle with short-seller Muddy Waters to a Singapore court on Wednesday as it fought off criticisms of its accounting practices and debt levels that have battered its share and bond prices.
Olam, partly owned by the Singaporean sovereign wealth fund Temasek Holdings, has filed suit against Muddy Waters LLC and its founder Carson Block in the high court of Singapore, alleging libel, slander or malicious falsehoods for statements Block made at a London conference on Monday, a company spokeswoman said. She said Olam was seeking damages but gave no details………………………………………..Full Article: Source


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