Quess Corp Shares Dip Following Muddy Waters Report

Quess Corp's stocks declined by 2% on
Feb 9. Muddy Waters flagged accounting issues with Fairfax Financial Holdings involvement

Muddy Waters claimed Fairfax Financial Holdings used Quess for accounting manipulation, creating $889.9 million profit in 2018

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Prem Watsa's Fairfax Financial Holdings, increasing stakes in Indian firms, allegedly manipulated Quess' accounts, according to Muddy Waters report

Muddy Water's report indicates that Quess Corp may have faced a loss of $205 million in Q1 2018 due to de-consolidation

Fairfax, owning a 49% stake via Thomas Cook India, influenced Quess' accounting practices, sparking market concerns and a stock dip

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