Wade decision legalizing abortion the “worst abomination in the history of constitutional law.”On the bench, Pryor has often ruled against criminal defendants. He also ruled that a Supreme Court decision banning automatic life sentences for juvenile defendants should not be applied to older cases.
An accountant’s blunder in the 2009 accounts of New Zealand Farming Systems Uruguay has come back to haunt Singaporean commodities giant Olam International as part of an attack on its performance by an investment firm renowned for shorting Asian stocks.An undeleted comment to “fudge this”, included in notes to the financial statements for the 2009 financial year and released to the NZX by NZFSU, related to the need to round a non cash depreciation element, but caused acute embarrassment at the time.Carson Block of US based Muddy Waters LLC, an investment firm that claims it “sees through appearances to a Chinese company’s true worth”, said earlier in the week that Olam engaged in “constant ‘reclassification’ of certain parts of its balance sheet”, particularly prematurely booking changes in the value of biological assets.According to the Financial Times, Block alleged there was one “where office supplies became biological assets”.Bloomberg reported this morning that Olam is suing Muddy Waters and Block over the comments for an undisclosed sum in damages. Senior executives have also accused Block of trying to enter the company’s Singapore offices in disguise earlier this month.Olam is one of the world’s largest rice, cotton, and peanut traders. Olam’s second largest shareholder is Singapore government controlled Temasek Holdings.Block has gained a reputation for collapsing the stock prices of listed Chinese companies, although Olam is Singaporean with few interests in China.
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