Share of Focus Media (NASDAQ: FMCN) down as much as 50% after attacks about the company’s financials made by short firm Muddy Waters, rallied 8% to $16.61
The firm announced it will continue purchasing shares pursuant to its previously announced share repurchase program. As of November 22, 2011 , approximately $300 million remains available for the repurchase program.
Focus Media also reported that chairman Jason Jiang will purchase US$11 million in Focus Media ADSs in a block trade.
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