European core banking supplier Temenos is the most recent sufferer of a Hindenburg Quick Report. The detailed report cites interviews with 25 former workers that allegedly uncovered manipulated earnings and accounting regularities.
Hindenburg is a monetary analysis agency that locations bets in opposition to publicly traded firms when it finds proof of wrongdoing. It has taken on many excessive profile firms since its founding in 2017.
It’s possible you’ll bear in mind it was virtually a 12 months in the past that Hindenburg attacked Block with an identical report. Block’s shares tumbled the day that report was launched however had absolutely recovered by the summer time.
Predictably, shares of Temenos are down considerably at present however the firm has reacted shortly and already issued a press launch refuting the claims within the report.
Whereas these quick sellers can present useful insights into the wrongdoing of public firms, we should always consider they aren’t all the time proper.
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> Temenos Sinks Most in 21 Years on Hindenburg Quick Report
The Swiss banking software program agency has misplaced $2.4 billion in market cap. The Hindenburg Report cites accounting irregularities, earnings manipulation.
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