US hedge fund slams Robur for French tech investment

Hedge fund Muddy Waters says French tech firm is likely involved in fraud after EY refuses to sign off on accounts. While the stock price tumbles, Muddy Waters also criticizes Swedbank Robur, as the stock dominates one of its funds, as well as two other managers.

Photo: Swedbank Robur/PR

The stock of French tech firm Solutions30 (S30) tumbled more than 60 percent on the Monday, after it became public knowledge that its auditor EY refused to sign off on its financial statements.

The firm opted to publish the unaudited accounts along with EY's explanation for its stance, writes Swedish financial daily Dagens Industri.

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