Shares of German finance firm Grenke tank after short seller accuses it of fraud

Shares of German finance firm Grenke tank after short seller accuses it of fraud


LONDON – Grenke, a German financial services provider, is under investigation after a report by a short-selling investor research company alleged it of market manipulation, money laundering and fraud.The 64-page report, which Grenke strongly rejects, was published by Fraser Perring of Viceroy Research. Shares of Grenke, which is listed on the Frankfurt Stock Exchange, were down 29% at one point on Tuesday and saw heavy falls again on Wednesday.Grenke argues that one of the main accusations in the report is false.”A central accusation is that a substantial portion of the 1,078 million… #Shares #German #finance #firm #Grenke #tank #short #seller #accuses #fraud