The Auditor Shuffle – (CAGC)

On March 13th, China Agritech (CAGC) stunned the world with the announcement of their Very Special Committee. On March 14th CAGC issued another press release loaded with awesome.

BEIJING, March 14, 2011 /PRNewswire-Asia-FirstCall/ — China Agritech, Inc. (Nasdaq : CAGC) (“China Agritech”, or the “Company”), a leading organic compound fertilizer manufacturer and distributor in China, today announced that the Board of Directors, based on the suggestion of the Company’s Audit Committee, has dismissed Ernst & Young Hua Ming as the Company’s independent auditor starting from March 14, 2011.

Your author, for one, cannot wait to find out which fine firm the Audit Committee and its head, GMB, choose to replace E&Y HM. Frazer Frost? Kabani? J. Crane & Co.? A modest proposal for CAGC. Keep E&Y, lose Gene Michael Bennett and Gareth?

The content contained in this blog represents only the opinions of the author. The author may hold either long or short positions in securities of various companies discussed in the blog. This commentary in no way constitutes investment advice, and should never be relied on in making an investment decision, ever. This blog is not a solicitation of business: all inquiries will be ignored. The content herein is intended solely for the entertainment of the reader, and the author.
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