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Grifols Sues in NY Over Gotham City Short-Seller Report

(Bloomberg) -- Grifols SA sued Gotham City Research over a report alleging the company has overstated profit and misstated its accounting.Most Read from BloombergPutin Sends US Signal on Ukraine Talks, Seeing War AdvantageOne of World’s Richest Doctors Sees Fortune Surge to $12 BillionFed’s Preferred Inflation Gauge Cools on Robust SpendingJPMorgan Shuffles Top Managers as Jamie Dimon Prepares SuccessorsUN Court Tells Israel to Protect Gazans, Avoids Cease-FireGotham City Research,...
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Source: yahoo.com

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Gotham City accounting queries wipe $3 billion off Grifols value

MADRID/BARCELONA (Reuters) -Shares in Grifols fell by 30% on Tuesday, wiping nearly $3 billion off its market value, after hedge fund Gotham City Research questioned its accounting, prompting the Spanish drugmaker to "categorically" deny any wrongdoing. Gotham questioned Grifols' reported debt and earnings before interest, taxes, depreciation and amortisation (EBITDA), and leverage ratio of 6.7 times. It said the leverage ratio is close to 10 to 13 times EBITDA.
Comunidad Autonoma De Cataluna Rodrigo Buenaventura Emma Pinedo Joan Faus Daniel Yu Matteo Allievi
Source: aol.com

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