Legal action taken before Singapore's supreme court.
In a brief nnouncement release, Olam International Limited said it has initiated legal action in the High Court of Singapore against both Muddy Waters, LLC and Carson Block for the statements made at the Sohn London Investment Conference in London on November 19, 2012.
The short-selling firm and its founder Carson Block had suggested that Olam had been using questionable accounting methods. An as-of-yet-released report. had been hinted to expound on these allegations, whcih according to some analysts, have the potential to push the stock under selling pressure regardless of their veracity.
The Olam release did not state any further details about the legal action.
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