In November 2011,
Muddy Waters Research reported massive
fraud and corruption within the company. Focus denied the allegations. Until 2020, Muddy Waters had shorted 18 Chinese companies, including New Oriental (EDU), Anta Sports (02020.hk), Luckin Coffee (LK), and so on, most of which have been developing well. In May 2013, Focus Media was subsequently taken private and delisted from the
Nasdaq by a
private equity consortium that included
FountainVest Partners,
The Carlyle Group,
China Everbright and
CITIC Capital. In June 2015, Focus Media reached a $7.4 billion deal to list on the
Shenzhen Stock Exchange via reverse merger. Its market value breaks through 100 billion yuan. In 2016, Focus Media was included in the Shanghai and Shenzhen 300 Index. In 2017, Focus was included in the MSCI China A-share Index, and in 2024, Focus was included in the CSI A50 Index. ==References ==