Sino Forest
By Christopher Donville - Jul 4, 2011 9:56 AM ET
Wellington Management Co., the Boston-based investment firm that manages $663 billion, said it owns 11.5 percent of Sino-Forest Corp. (TRE), the Chinese tree-plantation operator targeted by short seller Carson Block.
The fund-management company controlled 28.3 million shares of Sino-Forest as of June 30, Wellington said in a regulatory filing. Robert Toner, Wellington’s vice president and counsel, didn’t immediately return a call seeking comment during the U.S. Independence Day holiday.
Sino-Forest’s stock has fallen 81 percent since a June 2 report by Muddy Waters LLC, a research company founded by Block, said Hong Kong- and Mississauga, Ontario-based timber producer -Forest overstated its tree-plantation holdings.
Sino-Forest, which has rejected the allegations, commissioned an independent investigation and appointed PricewaterhouseCoopers LLP to assist. Sino-Forest said June 14 the probe won’t be completed for two to three months.
Wellington has about $663 billion under management, according to its website.
Sino-Forest rose 30 cents, or 9.4 percent, to C$3.50 at 9:43 a.m. in Toronto Stock Exchange trading.
To contact the reporter on this story: Christopher Donville in Vancouver at cjdonville@bloomberg.net.
To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net.
Und jeder weis das Wellington Champions Klasse ist.
Es gibt ja einen Herrn Paulsen noch der eine Rechnung offen noch hat mit MW.
Wenn der auch jetzt noch kauft-
Das Interessiert kein Schwein!!!!!!!!!!!
Freut euch und gut .
Hier ist keiner der sagt ich bin reich geworden, ich bin so und so viel im Gewinn.
Du hast es genau richtig gesagt.... Wir freuen uns einfach.
Du bist doch der der sich so schnell in die hose gemacht mit seinen 100Stk. und schon Verkauft hat!