The reports on this website have been prepared by Muddy Waters Capital LLC (“Muddy Waters Capital”). We refer to Muddy Waters Research and Muddy Waters Capital collectively  as “Muddy Waters” and individually these entities are referred to as a “Muddy Waters  Entity”. You should assume that, as of the publication date of a Muddy Waters report, Muddy Waters Related Persons (possibly along with or through its members, partners, affiliates, employees, and/or consultants), Muddy Waters Related Persons clients and/or investors and/or their clients and/or investors have a short position in one or more of the securities of a Covered Issuer (and/or options, swaps, and other derivatives related to one or more of these securities)