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Home > Finance > Germany’s BaFin probes Adler Group’s financial reports

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Germany’s BaFin probes Adler Group’s financial reports

Published by maria gbaf

Posted on February 11, 2022

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BERLIN (Reuters) -German financial watchdog BaFin is examining the financial reports of Adler Group, one of Germany’s biggest landlords, a spokesperson for BaFin said on Thursday.

The spokesperson, confirming a report that first appeared in Handelsblatt, declined to elaborate further.

The accounting investigation follows allegations made against Adler by short seller Fraser Perring’s Viceroy Research.

Viceroy Research, in a report published on Oct. 6, 2021, said Adler Group’s “balance sheet has been artificially inflated to a significant degree, its shares are not investible”, causing the group’s shares to tumble. Adler rejected the allegations https://www.reuters.com/article/adler-report-idUSKBN2GW1X0.

Frankfurt prosecutors are in contact with BaFin about Adler’s finances, a spokesperson confirmed.

A spokesperson for Adler declined to comment on ongoing investigations.

(Reporting by Maria Sheahan, Tom Sims and Matthias Inverardi; Editing by Paul Carrel and Edmund Blair)

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