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What: VanceInfo Technologies
So what: VanceInfo's stock began dropping on Monday on news that another China-based IT company, Longtop Financial Technologies
Now what: Several Chinese companies, including Longtop and China MediaExpress Holdings (OTC BB: CCME.PK), have been accused of accounting fraud, raising concerns about the reliability of financial reports from other Chinese companies such as VanceInfo. On Wednesday, Oppenheimer downgraded VanceInfo and another Chinese IT services company, Camelot
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.