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Tech Company Admits It Is A Fraud Following Short-Seller Report
Tyler Durden's picture   There was a time when reports issued by
short selling-focused research shops such as Muddy Waters would
usually result in disparagement lawsuits by the targeted company
(typically a  reverse-merged Chinese fraudcap), seeking to shut
said short-sellers and restore confidence in the company (when
the best way to restore confidence would have been for the
company to simply buy back its shares at severely depressed
values).  However, the reputation of such bearish-biased
research boutiques is set to soar following the latest fiasco
involving Spanish mid-cap tech company Let's Gowex (GOW), a
Madrid-based provider of Wi-Fi connections and support services
for mobile-phone carriers, which a week ago was the subject of a
research report by Gotham City Research (whose work has
deservedly appeared in the past on Zero Hedge) and its Twitter
frontliner @LongShortTrader