NEW YORK, April 25, 2024: Wolf Popper LLP is continuing to
investigate potential securities fraud claims on behalf of
purchasers of Temenos AG ("Temenos" or the
"Company") American Depositary Shares (OTC: TMSNY).
Before the market opened on February 15, 2024, Hindenburg Research
published a short seller report entitled Temenos: Major
Accounting Irregularities, Failed Products and An Illusive
Turnaround. Hindenburg said it investigated the Company
for four months and talked to 25 former employees and alleged it
"...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." On this news, Temenos' ADS price
fell from $100.69 per ADS on February 14, 2024 to close at $72.30
per ADS on February 15, 2024, a decline of 28.2% on very heavy
volume.
PRESS RELEASE
1 May 2024
Wolf Popper LLP Continues Its Investigation On Behalf Of Investors In Temenos AG
Wolf Popper
Contributor
Wolf Popper is a leading complex litigation law firm that represents clients in high stakes individual and class action litigations in state and federal courts throughout the United States. The firm specializes in securities fraud, mergers and acquisitions, consumer fraud litigation, healthcare litigation, ERISA, and commercial litigation and arbitration.
NEW YORK, April 25, 2024: Wolf Popper LLP is continuing to investigate potential securities fraud claims on behalf of purchasers of Temenos AG (“Temenos” or the “Company”) American Depositary Shares (OTC: TMSNY).