CPI Property Group Completes Review of Short Seller Allegations

CPI Property Group (CPIPG) has announced the completion of an independent review of the allegations made by short seller Muddy Waters. Conducted by the global law firm White & Case, the review found no evidence supporting the claims made since November 2023.

The thorough investigation involved analyzing corporate documents, interviews with key personnel, database background checks, and a forensic review of approximately 2.4 million data records. No schemes designed to confer undue financial benefits, particularly to CPIPG's majority shareholder, were identified.

White & Case provided valuable recommendations for enhancing governance and separating the activities of the majority shareholder from the Group. Initial steps include deploying a business partner KYC tool and appointing a Group Compliance Officer. With these steps in progress, CPIPG considers the matter closed.