European core banking supplier Temenos is the newest sufferer of a Hindenburg Brief 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 towards publicly traded corporations when it finds proof of wrongdoing. It has taken on many excessive profile corporations since its founding in 2017.
You could bear in mind it was virtually a yr in the past that Hindenburg attacked Block with an analogous 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 right this moment however the firm has reacted shortly and already issued a press launch refuting the claims within the report.
Whereas these quick sellers can present priceless insights into the wrongdoing of public corporations, we should always take into account they don’t seem to be all the time proper.
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> Temenos Sinks Most in 21 Years on Hindenburg Brief 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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