shares of the world’s largest pork producer tumbled 11 wednesday after the son of the chinese company’s billionaire chairman publicly accused his father of financial misdeeds wh group ltd 288 1133  which is listed in hong kong and owns virginiabased smithfield foodsand meatprocessing plants in china said in a statement that the allegations made by its former executive director wan hongjian were “untrue and misleading” wan hongjian is the son of wan long an 81yearold meatindustry veteran and the controlling shareholder of wh group the elder mr wan last week stepped down as chief executive of the porkindustry giant and handed the reins to guo lijun who had been the company’s chief financial officer a long article bearing the name of the younger mr wan—who used to have a senior role at wh group and left the company recently—appeared tuesday evening on a wechat account operated by a media outlet called xinrouye which posts articles about china’s meat industry the article alleged that wan long had pocketed large sums of money and evaded taxes and claimed wh group had engaged in fraud it also accused mr guo of causing the company to lose millions of dollars from foreign exchange hedging many of the allegations were picked up by chinese media outlets wh group put out a stockexchange filing in the early afternoon in response to the large move in its share price it referred to “certain media reports regarding allegations made by mr wan hongjian ” against the group and said it may take legal action against him and others responsible for the allegations its shares didn’t recover and closed at their lowest level in nine months wan hongjian couldn’t be reached for comment in june wh group removed him from his roles as executive director deputy chairman and vice president of the company saying he was unable “to fulfill his duties of skill care and diligence as a director due to his recent misconduct of aggressive behaviors against the company’s properties” following his departure from wh group wan hongjian gave interviews to a few chinese media outlets in which he said he had disagreed with his father over a managerial choice in one of the articles he said he had punched a door and banged his head against a glass cabinet when he was asked to leave his father’s office wh group last week reported a 68 yearoveryear increase in revenue for the six months ended june 30 to 133 billion and slightly lower profit of 539 million