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More than 20 of the Chinese companies listed on the United State's exchanges have been accused of fraud,[link widoczny dla zalogowanych], China Business News reported Monday.About 80 percent of Chinese companies listed on the US market meet the nation's standards,[link widoczny dla zalogowanych], but 10-20 percent of the firms provided false information,[link widoczny dla zalogowanych], the report said,[link widoczny dla zalogowanych], citing Stephen Paul Monticelli,[link widoczny dla zalogowanych], president of Mosaic Investments LLC,[link widoczny dla zalogowanych], a San Francisco-based company that has invested in Chinese firms over the past five years.
Stock prices of Dalian Rino Environment Engineering Science and Technology Co dived about 20 percent after it was reported to give false information to the US Securities and Exchange Commission this November. Now the Liaoning-based company has been sued,[link widoczny dla zalogowanych], the report said.
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