Grifols to seek compensation from Gotham at least equivalent to share loss - board member
Reuters
Published Jan 10, 2024 11:53
BARCELONA (Reuters) - Spain's pharmaceutical company Grifols will seek a compensation at least equivalent to the share price loss prompted by short seller Gotham City Research's Tuesday report in the lawsuit it plans to launch, a board member told Reuters on Wednesday.
Board member Tomas Daga, who sits on Grifols' audit committee and has advised it as a lawyer on several acquisitions, did not elaborate on the exact amount of the compensation sought.
Following Gotham's report, Grifols' shares on Tuesday closed 26% lower in Madrid, wiping 2.28 billion euros ($2.49 billion) off the company's market value, though shares traded 42% lower during that day.
The company plans to hold a call with investors on Thursday.
($1 = 0.9140 euros)
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.