Yongye International Responds to Seeking Alpha Report
Yongye International, Inc. (Nasdaq: YONG) today responded to misconceptions regarding its business contained in a report posted Tuesday on the website Seeking Alpha by Prescience Investment Group. The author is an admitted short seller and specifically disclaims any warranty of the accuracy of what it published about Yongye. The allegations in the report are false, misinformed, and misleading.
Yongye has previously, on several occasions -- in public filings and on publicly accessible conference calls -- addressed all of the issues raised by this report. However, investors can refer to the FAQ section of Yongye's investor relations site (http://www.yongyeintl.com/FAQ.html) in order to view a detailed response to each of the specific assertions in the report.
Yongye is committed to transparency and best practices regarding all matters pertaining to corporate governance and stands by its distribution model, which continues to deliver positive results for the business. Further, the Company is proud to have Morgan Stanley Private Equity Asia (MPSEA) as an active partner that is committed to helping drive Yongye's business forward and ultimately enhance shareholder value for all investors.
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