Glaucus Research Group

Glaucus Research Group is an American securities research firm that specializes in short selling stocks, particularly of companies that it believes has accounting problems.
Glaucus has published critical reports about a number of companies listed in China in which it has taken short positions, including Universal Travel Group (April 2011), Gulf Resources (April 2011) L&L Energy (August 2011), China Medical Technologies (December 2011), Shougang Fushan Resources Group (April 2012), West China Cement (August 2012), China Metal Recycling (January 2013), Soufun Holdings (April 2013), China Minzhong Food (August 2013), Prince Frog International Holdings (October 2013), and China Lumena New Materials (March 2014). Glaucus also targeted Taiwan-listed Asia Plastic Recycling in 2014, claiming that the company had overstated its earnings; the Financial Supervisory Commission claimed that Glaucus had "maliciously spread rumors" about Asia Plastic Recycling, and considered bringing a criminal complaint against Glaucus.
In June 2016, the firm announced that it would begin to target Japanese companies with questionable accounting practices. Its first target in Japan was Itochu, which it publicly criticized in July 2016, causing a stock price dip of around 10%. This was the first reported attack on a major Japanese company by a short seller.

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