Grenke’s shares plummet following Viceroy report

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By Silas Brown
17 Sep 2020

Bank and leasing firm Grenke has seen its share price plummet by more than half over the past two days after becoming the latest target of Viceroy Research, the activist short seller known for its campaigns against Wirecard and Steinhoff. German regulator Bafin has told GlobalCapital it is investigating the situation.

"Grenke’s global expansion through the purchase of dozens of undisclosed related party franchises is a fraudulent scheme perpetrated on a mass scale, designed to either hide fake cash or siphon off millions of euros to undisclosed related parties, or both," said Viceroy.

Although Grenke did not respond in time ...

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