Pork Giant Fights Former Director’s Claims of Financial Misdeeds

Top pork processor WH Group Ltd. refuted allegations of financial wrongdoing by an ex-director against the chairman, who’s also his father, ratcheting up a family dispute that erased about $2 billion of its market value last week.

In a point-by-point rebuttal issued Monday, the Hong Kong-listed meat giant dismissed Wan Hongjian’s claims that his father Wan Long obtained 5% of Henan Shuanghui Investment & Development Co. for free during a reorganization and sold the stake for $200 million, which he failed to disclose as taxable income.

READ: Father-Son Feud Wipes $2 Billion From Shares of China Meat Giant

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