This could be a very naughty naughty hand slappy kind of moment.
First the Banks are found fiddling.
And now Internet businesses?
Who would have thought it????
Who can you trust these days, I mean whoooooo caaaaaann yoooou trust?
Chinese internet darling Qihoo 360 Technology has been accused by the research arm of hacktivist group Anonymous of deliberately overstating the volume of traffic to its site in order to attract advertisers, allegations which if true could see it kicked off the New York Stock Exchange. Qihoo has had a spectacular impact on its …
No, Anon has provided the smoking gun; a kernel of evidence. It is now hoped that the proper authorities will pick it up and investigate. I'm sure Anonymous will take no further action unless (as we can no doubt expect) the proper authorities take no action whatsoever due to their fear of losing profits or Chinese market placement etc.
So, the shares are valued based on their own figures with no verification? I would have thought that to be listed there would be some sort of burden of proof on the company to justify their traffic - but then I thought FaceBook was overvalued by a few million percent, so what do I know?
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