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Olam International Ltd Sues Short-Seller Muddy Waters-Reuters

Wednesday, 21 Nov 2012 10:46am EST 

Reuters reported that Olam International Ltd took its battle with short-seller Muddy Waters to court, as the Singaporean commodities trader fought off criticism of its accounting practices and debt levels that hit its bond and share prices. Olam, 16% owned by Singapore state investor Temasek has filed a suit against Muddy Waters and its founder Carson Block in the High Court of Singapore, alleging libel, slander or malicious falsehoods for statements Block made at a London conference on November 19, 2012 a company spokeswoman said. She said Olam was seeking unspecified damages.