On Tuesday, Grifols signed the second-best result for the Ibex 35 index after observing a 4.84% rise, allowing the stock to stand at 10.45 euros, as it maintains the upward line that arose after the company filed a lawsuit last Friday – with the market already closed. – In the US District Court for the Southern District of New York against Gotham City Research, Fund Manager and Founder, Daniel Yu, General Industrial Partners, Cyrus de Weck and their affiliates.
In this way, the shares of the Catalan blood pharmaceutical company ended trading on Tuesday with a 9.3% revaluation compared to last Friday's close.
Overall, although its shares are still down 26.6% from the closing data last January 8, one day before Gotham City Research published the report that accused Grifols of falsifying accounts and the pharmaceutical company fell sharply on the stock market, it is also true It is a far cry from the minimum reached so far on January 19, when the accumulated decline reached 41%, with the share price reaching 8,368 euros.
Going into details of recent events, last Friday, after the market closed, the company informed the National Securities Market Commission (CNMV) that it had filed with the United States District Court, following reports questioning its accounting and financial solvency. of the Southern District of New York sued Gotham City Research and the fund's manager and founder, Daniel Yu, General Industrial Partners, Cyrus de Weck and their affiliates, seeking compensation for financial and reputational damages to the company and its shareholders.
The complaint alleged that the defendants obtained a “substantial short position” in Grifols by publishing and distributing a report that “contained lies about Grifols’ accounting, communications, finances, and integrity.”
In this lawsuit, the Catalan company requested the application of precautionary measures so that the defendants would withdraw and not continue in their actions, while a financial recovery was demanded, the value of which was not determined.
Grifols also asked the New York court to hold the defendants “fully liable” for the “wrongful conduct” alleged in the lawsuit.
In addition, he took the opportunity to document the list of crimes and convictions of Daniel Yu, whom he accuses of creating Gotham City “as a vehicle for his criminal enterprise.”
The lawsuit included Gotham's initial report on Grifols that “falsely” accused the blood products company of manipulating its financial ratios, misrepresenting its influence, and misleading investors, a second report from the company, published the next day, which corrects and amends the first, and a document comparing material differences between the two reports.
“The defendants engaged in a fraudulent scheme to deceive investors and regulatory agencies,” the complaint warned.
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