Shares of Swiss software company Temenos experienced a significant decline on Friday afternoon, with a decrease of over 6%, following Thursday’s substantial losses where they closed more than 28% lower.
The company issued a statement on Thursday in response to a report published by short-seller Hindenburg Research, stating that its board of directors strongly denies the allegations made in the report.
At 1:17 p.m. London time on Friday, Temenos shares were trading at around 59.66 Swiss francs ($67.67), down 6.1% from the previous day.
Temenos emphasized in its statement that Hindenburg’s report contains factual inaccuracies, analytical errors, as well as false and misleading allegations, and expressed disappointment that the company was not given the opportunity to provide input before the report was published.
Source (CNBC)
