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Hindenburg Throws Swiss Fintech Temenos Into Turmoil With Report bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
(Bloomberg) Temenos AG was a target of activist investors even before a report by Hindenburg Research led to the biggest drop in 15 years in the Swiss banking software company’s shares.Most Read from BloombergPutin Steps Into US Race to Back ‘Old-Style’ Biden Over TrumpHawaii Rightly Rejects Supreme Court’s Gun NonsenseJapan Loses Its Spot as World's Third-Largest Economy as It Slips Into RecessionApple Readies AI Tool to Rival Microsoft’s GitHub CopilotDozens of Banks Rapidly Piled Up Commer
(Bloomberg) — Temenos AG plunged by nearly a third, slashing its market value by $2.2 billion, after Hindenburg Research took a short position and alleged serious flaws in the books of the Swiss banking software company. The report by Hindenburg, an activist short-seller founded by Nate Anderson, refers to “major accounting irregularities” and says Temenos…