Xl'AN, China, May 5, 2011 /PRNewswire-Asia-FirstCall/ -- Sino Clean Energy Inc. (Nasdaq: SCEI) ("Sino Clean Energy," or the "Company"), a leading producer and distributor of coal-water slurry fuel ("CWSF") in the People's Republic of China ("China"), announced today its intention to take action against those responsible for the malicious and fraudulent attacks on Sino Clean Energy, which were orchestrated and conducted by or on behalf of certain short sellers.
The Company recently responded to the false and defamatory allegations made by short sellers, including the notorious so-called Alfred Little and Geoinvesting. As is common with these coordinated attacks, Sino Clean Energy noticed dramatically increased naked short selling activity in its common stock that coincided with the attacks by Alfred Little, publishing on SeekingAlpha and elsewhere, and by Geoinvesting. The Company believes that such persons and others, who have admitted that they have short positions in the Company's stock, are attempting to drive down Sino Clean Energy share price artificially for their own financial benefit. The Company believes that the short sellers seek to accomplish this goal by spreading fabricated market information and rumors. In addition to the very serious market manipulation in which the short sellers have engaged, serious questions have been raised about the identity, and even the existence, of the person (or persons) calling himself Alfred Little.
Sino Clean Energy is dedicated to protecting its stockholders and its interests. Accordingly, the Company is takin5g all necessary steps to bring an action against those who have spread false and misleading information to attack it and who seek to benefit themselves from the damage they inflict on the Company and its shareholders. The Company also will pursue all other avenues available to it, including filing complaints with government regulators and others.