Poland's LPP says police are investigating Hindenburg Research
20/06/2024 19:08
WARSAW, June 20 (Reuters) - Polish police have opened an
investigation into possible manipulation of financial
instruments by Hindenburg Research, fashion group LPP LPPP.WA
said on Thursday.
On March 15, LPP's Warsaw-listed shares plunged 36%, after
Hindenburg Research questioned the company's sale in 2022 of its
Russian assets in a report. LPP denied the information published
by Hindenburg Research.
Hindenburg Research did not immediately respond to an
emailed request for comment and Reuters was not able to confirm
the investigation with the district prosecutor's office as it
was outside of its working hours.
"The company received a decision on the initiation of an
investigation into the suspected crime of manipulating financial
instruments in the form of the company's shares on March 15,
2024 by persons associated with Hindenburg," LPP said in a
statement on Thursday.
It said the investigation regarded "the dissemination via
the internet of information that gave or was likely to give
false or misleading signals as to the actual demand, supply or
price of a financial instrument".
It added that the investigation was opened by the Warsaw
Police deparment for combatting economic crime and is supervised
by the district prosecutor's office in Warsaw.
(Reporting by Karol Badohal; editing by Barbara Lewis)
((karl.badohal@thomsonreuters.com;))