Liberty Health investigation concludes no wrongdoing after short-seller report
Liberty Health Sciences said an independent investigation determined a short-seller report that detailed numerous allegations of insider self-dealing and overpaying for certain assets “was materially inaccurate” and “should not be relied upon.” The company found itself in the crosshairs of a report released by short seller Hindenburg Research in December, alleging that the Florida-focused company is part of the same “web of highly questionable deals,” that led it to short Aphria Inc. Liberty Health said it retained U.S. accounting firm Grassi & Co. last month to investigate the allegations, which were determined to be “inaccurate or out of date.” Hindenburg founder Nathan Anderson told BNN Bloomberg that Liberty Health’s investigation found no inaccuracies in his report and four of the company’s directors have resigned since its publication. “That should speak for itself,” he said.