NMC Health Hires Ex-FBI Head to Probe Short-Seller Allegations

NMC Health Hires Ex-FBI Head to Probe Short-Seller Allegations

The company's shares have plunged 44% since Muddy Waters said in a Dec. 17 report that NMC's financial statements hint at potential overpayment for assets, inflated cash balances and understated debt.. The stock rose as much as 7.8% Friday in London.. The panel is focusing its review initially on confirmation of the company's cash balances as of Dec. 15, the United Arab Emirates-based company said in a statement Friday.. "The committee chose Freeh Group to provide a completely independent, unbiased, comprehensive and transparent report that will address all of these allegations," said Jonathan Bomford, chairman of the committee.. Muddy Waters, led by Carson Block, also alleged that NMC's independent directors aren't truly independent, and that the company appears to be doing business with entities controlled by its leading shareholders without properly disclosing it.. Muddy Waters has also issued critical reports on companies including French retailer Casino-Guichard Perrachon SA.. Our content is aimed at engaging decision-makers across the region's fastest-growing companies..