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Company News

Chinese social media firm JOYY disputes short-seller Muddy Waters' report

Nov 19 (Reuters) - Chinese social networking platform JOYY Inc on Thursday disputed a report by short seller Muddy Waters, saying it contained numerous errors, unsubstantiated statements and misleading conclusions.

Muddy Waters on Wednesday accused JOYY of being a “multibillion-dollar fraud” and decided to bet against its stock, just days after Chinese search engine giant Baidu Inc struck a deal to buy its domestic streaming platform. (Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)

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