"Grifols Plummets 40% Amid Accounting Fraud Allegations"
TL;DR Summary
Spanish blood plasma firm Grifols SA's stock tumbled 33% after short seller Gotham City Research LLC criticized its financial reporting, claiming that the company artificially reduced leverage and overstated profit. Grifols rejected the allegations, stating that the related party transactions and disclosures reported by Gotham City Research have been fully disclosed and audited since 2018. The Spanish securities regulator CNMV is currently analyzing the report, and the company is planning to repay its bonds due in 2025 using existing cash and money from selling a stake in Shanghai RAAS Blood Products Co.
- Grifols Sinks as Short Seller Gotham Criticizes Accounting Yahoo Finance
- Gotham City accounting queries wipe $3.83 billion off Grifols value Reuters
- Spanish healthcare group Grifols plunges 40% after fraud allegation Financial Times
- Why Is Grifols (GRFS) Stock Down 38% Today? InvestorPlace
- Grifols to hold board meeting Tuesday afternoon after Gotham City report Reuters
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