Muddy Waters: Sino-Forest's Ties That Bind

Muddy Waters Research provided further commentary in its continued coverage of Sino-Forest (OTC: SNOFF) in a research report titled "Ties That Bind, Part 1," published today.

Muddy Waters initiated coverage on Sino-Forest on June 2.

In the report, Muddy Waters comments on Sino-Forest information released June 17 regarding the company's relationship with Huaihua City Yuda Wood Company.

In the report, Muddy Waters states, "Contrary to information TRE released on June 17, 2011, Huaihua Yuda, appears to be closely related to TRE."

The full Muddy Waters report can be found here.

Shares of Sino-Forest were trading at $2.64 at the time of posting, down 22.32% from Friday's market close.