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id: 259, Created by Sherif Fathy, Scout
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In a report from Spruce Point Capital Managment, dated on the 8th of December, 2021, there were claims that Nuvei Corporation have neglected the real growth data and published another false data to the public.
The report claims that Nuvei “has covered up a pattern of business failures, lack of organic growth, and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities.” Furthermore, while Nuvei is reporting “remarkable financial success,” Spruce Point asserts that the Company’s financial disclosures are “weak” and that “results are being temporarily enhanced from concentrated exposure to high risk gaming and eCommerce.”
Following this news, the price of Nuvei shares was down over 37% in early morning trading on December 8, 2021, and hurting investors.
Failure to Disclose,
Shock Event Date
08 December 2021