This article studies the interactive communication between the management of a company and the investors after the company's fraud is disclosedIt finds that the management would more actively interacts with the investors after the company's fraud is disclosed, and this would help restore investors' trust and the company's value damaged by the fraudIt also finds that the severity of violations, the external environment of information, and the motivation of management for benefit would significantly affect a company's decisions on interaction and communication via social mediaThis study provides some important examples for the information construction of Chinese capital market in the age of internet.