- Update 3:52pm: Adds company response to short report.
- Hannon Armstrong Sustainable Infrastructure ( NYSE: HASI ) dropped 20% after Muddy Waters released a new short report .
- Muddy Waters alleges that HASI's accounting is complex and that the company appears to inflate its GAAP earnings.
- Hannon Armstrong said in a statement to CNBC that the report "is an attempt to mislead and confuse the market." HASI also said the short call is "replete with factual errors and numerous ... inflammatory and misleading statements."
- "Hannon Armstrong's accounting is fully compliant and indicative of our performance," the company said in a statement. "We are proud of our long history of transparent disclosure and best-in-class accounting practices."
- Muddy Waters said it's short HASI.
- HASI in earlier May reported Q1 earnings that beat on strong interest income growth.
For further details see:
Hannon Armstrong falls on new short report from Muddy Waters (update)