Ex-Google CEO mounts short-seller offensive

Prominent Chinese executives – including Google’s (GOOG.NASDAQ) former CEO for mainland operations Kai-Fu Lee – criticized China-focused short-seller research firms for what they call unfair and inaccurate attacks on US-listed Chinese companies, The Wall Street Journal reported. More than 60 business leaders signed a letter accusing short-seller Citron Research of publishing reports that “boldly tell lies, knowing that their American readers have no way of verifying them.” The group also created a website, Citronfraud.com, which focuses in part on Citron’s criticism of internet company Qihoo 360 Technology (QIHU.NYSE). Citron founder Andrew Left responded that Lee had distorted his reports. “If what I wrote was false, then you wouldn’t need a movement around it … I am more than happy to defend [my statements] in a court of law,” Left said, adding that Sequoia Capital, an investor in Lee’s incubator, is also a Qihoo backer.