Cases & Investigations
Temenos AG

Overview

Overview Case Updates Contact Us About This Case

Type: Investigations

Defendant(s): Temenos AG

Stock Symbol: American Depositary Shares (OTC: TMSNY)

Wolf Popper LLP is continuing to investigate potential securities fraud claims on behalf of purchasers of Temenos AG (“Temenos” or the “Company”) American Depositary Shares (OTC: TMSNY).

Before the market opened on February 15, 2024, Hindenburg Research published a short seller report entitled Temenos: Major Accounting Irregularities, Failed Products and An Illusive Turnaround. Hindenburg said it investigated the Company for four months and talked to 25 former employees and alleged it “…uncovered hallmarks of manipulated earnings and major accounting irregularities. This includes evidence of roundtripped revenue, sham partnerships, rampant pulling forward of contract renewals, backdated contracts, excessive capitalization of seemingly non-existent R&D investments and other classic accounting red flags.” On this news, Temenos’ ADS price fell from $100.69 per ADS on February 14, 2024 to close at $72.30 per ADS on February 15, 2024, a decline of 28.2% on very heavy volume.

Contact Instructions

Phone: Adam Savett - (212) 451-9655
Email: Outreach@wolfpopper.com

Wolf Popper LLP Continues its Investigation on Behalf of Investors in Temenos AG

Case Update | 4/25/2024

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Cases & Investigations Temenos AG

Cases & Investigations
Temenos AG