Monday, Origin Agritech Limited (SEED), a China based agricultural technology company, said that its chief financial officer, Veronica Chen, is stepping down to pursue other opportunities. The company has appointed Yasheng Yang as the acting CFO effective immediately.
Yasheng Yang has served as the vice chairman of the board, treasurer of the company and has also previously served as the company's chief operating officer from 2005 to 2007. Yang has been involved in the Chinese seed industry for over ten years.
Additionally, the company said that it has filed a letter of complaint with the U.S. Securities & Exchange Commission, or SEC, regarding the naked short selling of the company's stock.
Currently, the stock is trading down 17.91%, at $ 3.62 on the Nasdaq.
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