Eurofins Rejects Muddy Waters Attack as Shares Edge Back Up
- Shares recover after Monday’s plunge, rising more than 6%
- Company defends its accounting, labor costs and acquisitions
This article is for subscribers only.
Eurofins Scientific SE rejected allegations made by Carson Block’s Muddy Waters Research that caused its stock to plunge the most in two decades, saying it’s confident in the integrity of its accounts.
The laboratory-testing company defended its accounting system and said its growth over the past two decades should back up its investment decisions, dismissing the short seller’s report as “insidious allegations.”