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NCR.US
id: 294, Created by Stan Vick, Scout
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On September 15, 2022, NRC Corp. announced that it isn't selling itself but instead splitting into two separate companies - an ATM business and digital commerce.
On this news, the price of NCR stocks declined more than 20% and the Company lost over $800 million of its capitalization, seriously damaging investors on September 16, 2022.
Back in February, the Company stated that it was reviewing its financial options, including a total sale.
Meanwhile, now executives also said that they still may consider an offer from private investment funds to purchase NCR, either in whole or in part.
Taking the history of public assurances of the NCR's management and the dubiousness of the sequence of actions into account, there are grounds for questions about the quality of management, timeliness of disclosure, and the fulfillment of fiduciary duties to shareholders.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
15 September 2022