As expected, Focus Media (FMCN) has responded to Muddy Waters' bearish report (.pdf), which...

|About: Focus Media Holding Limited (FMCN)|By:, SA News Editor

As expected, Focus Media (FMCN) has responded to Muddy Waters' bearish report (.pdf), which accuses the company of multiple types of fraud, by strongly denying each allegation. It remains to be seen whether Focus Media will brush off Muddy Waters' attack like Spreadtrum (SPRD), or validate it like Sino-Forest, but for now, shares are up 14.5% premarket, rebounding a bit from yesterday's crash.