China Dangdang CEO Takes Jab At Morgan Stanley

E-Commerce China Dangdang DANG CEO Li Guoqing took to Sina's Chinese version of Twitter to take a swipe at Morgan Stanely MS, the bank that led Dangdang's $272 million IPO last month. "I am openly here criticizing investment banks, criticizing Morgan Stanley," Li said in his post. "So what? Can't Morgan Stanley be criticized?" Li is apparently upset that Morgan Stanley undervalued his firm in the IPO, Bloomberg News reported. The company confirmed the comments and said they were meant to “serve as a warning” to others seeking a stock listing in the U.S. and reflect the CEO's personal opinions, Beijing-based Dangdang said in an e-mailed statement today, according to Bloomberg. Credit Suisse CS also managed the offering with Morgan Stanley. The shares were sold at $16 after an original offering range of $11-$13. The stock has more than doubled since the IPO.