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Investigation announced for Investors in shares of Grifols, S.A. (NASDAQ: GRFS) over possible Violations of Securities Laws

03-05-2024 04:42 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Grifols, S.A. (NASDAQ: GRFS) shares over potential securities laws violations by Grifols, S.A.

An investigation for investors in Grifols, S.A. (NASDAQ: GRFS) shares over potential securities laws violations by Grifols, S.A.

An investigation was announced on behalf of investors of Grifols, S.A. (NASDAQ: GRFS) shares over potential securities laws violations by Grifols, S.A. in connection with certain financial statements.

Investors who purchased shares of Grifols, S.A. (NASDAQ: GRFS), 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 Grifols, S.A. (NASDAQ: GRFS regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Barcelona, Spain based Grifols, S.A. operates as a plasma therapeutic company in Spain, the United States, Canada and internationally. Grifols, S.A. reported that its annual Total Revenue rose from over 4.93 billion EUR in 2021 to over 6.06 billion EUR in 2022, and that its Net Income increased from $188.72 million in 2021 to $208.27 million in 2022.

On January 9, 2024, Gotham City Research LLC published a short-seller report on Grifols SA. In the report, Gotham City alleged, among other things, the stock market "appears to fundamentally misunderstand the company." The report claimed that Grifols "artificially reduced leverage by consolidating earnings of units it doesn't control and has overstated profit." Further stating, "GRF manipulates reported debt & EBITDA to artificially reduce reported leverage to 6x which we believe is closer to 10x-13x."

Shares of Grifols, S.A. (NASDAQ: GRFS) declined from $10.83 per share on December 14, 2023, to as low as $6.78 per share on January 18, 2024.

Those who purchased shares of Grifols, S.A. (NASDAQ: GRFS) 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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