Companies are know to change their corporate names after scandals partly as a way to bury the past and move forward. In China, the latest company to join the list is Prince Frog International Holdings.
Prince Frog, a Hong Kong-listed, China-based children care products and adult care products maker, was accused of accounting fraud by Glaucus Research in October 2013. The short-seller alleged Prince Frog had overstated sales of its signature moisturizing lotions based on an analysis of Nielsen data.
Prince Frog was able to resume trading after its shares were suspended for more than one month after giving a comprehensive reply refuting the allegations. On 7 April 2014, Prince Frog is no longer the fairy tale frog as the name will be changed to something more generic – China Child Care Corporation Limited. The reason given was to reflect the “diversified brand offerings of babies’ and children’s personal care products.” But for the informed outsiders, the name change seems like a move by the management to forget about the Glaucus saga and move on to a new chapter.