Hindenburg Report Throws Swiss Fintech Temenos Into Turmoil.

FINANCIAL technology; STOCKS (Finance); STOCK prices

Swiss fintech company Temenos AG is facing turmoil after a report by Hindenburg Research alleged serious flaws in the company's books, including "major accounting irregularities" and manipulated earnings. The report claims to have conducted a four-month investigation and interviewed 25 former employees. Temenos has denied the allegations, stating that the report contains factual inaccuracies and misleading allegations. Hindenburg Research has a track record of targeting high-profile businessmen and causing significant drops in their firms' market capitalization. Temenos shares have dropped significantly following the report. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)