(Reuters) -Eurofins on Tuesday denied allegations made by short seller Muddy Waters that questioned its financial reporting and sent its shares down 16% on Monday, adding it would provide a detailed list on the points raised in the report “in due course”.
“It is Eurofins’ view that entirety of allegations and insinuations contained therein is either inaccurate, irrelevant, biased and/or misleading,” the laboratory testing firm said in a statement.
Muddy Waters said on Monday it had taken a short position on Eurofins and published a report saying Eurofins’ financial statements could contain material overstatements of profits, cash balances and other asset values.
Eurofins said on Tuesday it “is completely confident in the integrity of its accounts, operational performance, internal controls and risk management.”
(Reporting by Olivier Sorgho, editing by Tassilo Hummel and Kim Coghill)
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