MuddyWatersCapitalLLCinfo@muddywatersresearch.comDirectorofResearch:CarsonC.BlockTheseTermsofUsegoverncurrentreportspublishedbyMuddyWatersResearchandsupersedeanypriorTermsofUseforolderreportsofMuddyWatersResearch,whichyoumaydownloadfromtheMuddyWatersResearch’swebsite.ThereportsonthiswebsitehavebeenpreparedbyMuddyWatersCapitalLLC(“MuddyWatersCapital”).WerefertoMuddyWatersResearchandMuddyWatersCapitalcollectivelyas“MuddyWaters”andindividuallytheseentitiesarereferredtoasa“MuddyWatersEntity”.Youshouldassumethat,asofthepublicationdateofaMuddyWatersreport,MuddyWatersRelatedPersons(possiblyalongwithorthroughitsmembers,partners,affiliates,employees,and/orconsultants),MuddyWatersRelatedPersonsclientsand/orinvestorsand/ortheirclientsand/orinvestorshaveashortpositioninoneormoreofthesecuritiesofaCoveredIssuer(and/oroptions,swaps,andotherderivativesrelatedtooneormoreofthesesecurities),andthereforestandtorealizesignificantgainsintheeventthatthepricesofeitherequityordebtsecuritiesofaCoveredIssuerdeclineorappreciate.MuddyWatersResearch,MuddyWatersCapitaland/ortheMuddyWatersRelatedPersonsintendtocontinuetransactinginthesecuritiesofCoveredIssuersforanindefiniteperiodafteraninitialreportonaCoveredPerson,andsuchpersonmaybelong,short,orneutralatanytimehereafterregardlessoftheirinitialpositionandviewsasstatedintheresearchreportpublishedbyMuddyWatersResearchorMuddyWatersCapital.NeitherMuddyWatersResearchnorMuddyWatersCapitalwillupdateanyreportorinformationonitswebsitetoreflectchangesinpositionsthatmaybeheldbyaMuddyWatersRelatedPerson.Eachreportspecifiesthepublisherandownerofthatreport.Allreportsareforinformationalpurposesonly.Undernocircumstancesshouldanyofthesereportsoranyinformationhereinbeconstruedasinvestmentadvice,orasanoffertosellorthesolicitationofanoffertobuyanysecuritiesorotherfinancialinstruments.MuddyWatersResearchisanonlineresearchpublicationthatproducesduediligence-basedreportsonpubliclytradedsecurities,andMuddyWatersCapitalLLCisaninvestmentadviserregisteredwiththeU...
