Adler announces appeal in German probe of financial reports (updated)

Adler SA

17/11/2022 09:26

(Adds detail on BaFin statement)
       BERLIN, Nov 17 (Reuters) - Adler Group said on Thursday
it was appealing against a decision by Germany's BaFin financial
regulator, which found accounting errors in the company's 2019
consolidated financial statements.
    "Adler continues to maintain the full accuracy and
correctness of the audited consolidated financial statements for
the 2019 financial year," it said in a statement, adding that it
would pursue legal remedies to move resolution of the issue
forward.
    BaFin said it had noted accounting errors in Adler's 2019
consolidated financial statements, with the consolidated balance
sheet total overstated by 3.9 billion euros ($4.05 billion) and
the total result by 543 million euros.
($1 = 0.9634 euros)
 (Writing by Rachel More
Editing by Miranda Murray)
 ((rachel.more@thomsonreuters.com;))