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Investigation announced for Investors in shares of Temenos AG (OTC: TMSNY) Investor Alert: Investigation over possible Violations of Securities Laws

03-05-2024 04:34 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Temenos AG (OTC: TMSNY) shares over potential securities laws violations by Temenos AG.

An investigation for investors in Temenos AG (OTC: TMSNY) shares over potential securities laws violations by Temenos AG.

An investigation was announced concerning over potential securities laws violations by Temenos AG in connection with certain financial statements.

Investors who purchased shares of Temenos AG (OTC: TMSNY), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Temenos AG regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Switzerland based Temenos AG develops, markets, and sells integrated banking software systems to banking and other financial institutions worldwide. Temenos AG reported that its annual Total Revenue declined from $967 million in 2021 to $949.62 million in 2022, and that its Net Income declined from $173.37 million in 2021 to $114.42 million in 2022.

On February 15, 2024, Hindenburg Research issued a report entitled "Temenos: Major Accounting Irregularities, Failed Products And An Illusive Turnaround." Hindenburg stated, "Our 4-month investigation into Temenos, involving interviews with 25 former employees, including senior leaders at the company, uncovered hallmarks of manipulated earnings and major accounting irregularities. This includes evidence of roundtripped revenue, sham partnerships, rampant pulling forward of contract renewals, backdated contracts, excessive capitalization of seemingly non-existent R&D investments, and other classic accounting red flags."

Shares of Temenos AG (OTC: TMSNY) declined from $103.63 per share on January 30, 2024, to as low as $66.85 per share on February

Those who purchased shares of Temenos AG (OTC: TMSNY) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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