Seek (ASX:SEK) says Blue Orca report inaccurate and unsubstantiated

Company News

by Anna Napoli

Seek (ASX:SEK) says a short-selling report from Blue Orca Capital contains many inaccurate statements and makes allegations of a very serious nature that are unsubstantiated.

The employment website business says it is in compliance with its continuous disclosure obligations and remains confident its long-term outlook.

Seek CEO Andrew Bassat says “We accept that market participants have different opinions, however this report is littered with inaccuracies. We are well positioned for future growth and remain confident in SEEK’s long-term outlook.”

Last week the Texas based short-seller said Seek’s prized Chinese business is inundated with false and fraudulent postings and that the company is carrying toxic levels of debt.

Shares in Seek (ASX:SEK) are trading 3.8 per cent lower at $20.69.