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Nio forms independent committee to probe short seller's allegations

The Edge Singapore
The Edge Singapore7/11/2022 09:10 PM GMT+08  • 1 min read
Nio forms independent committee to probe short seller's allegations
"The company reiterates its continued and unwavering commitment to maintaining high standards of corporate governance"
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China-based electric car marker NIO plans to form an independent committee to oversee an investigation regarding allegations made by Grizzly Research.

On June 28, Grizzly Research, a self-declared a short seller, alleges that Nio has overstated its revenue, among other reasons cited for shorting the stock.

The committee was formed “in order to protect the interests of all shareholders.

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