Super Group (SGHC) Withdrawn 2022 Guidance Case

In August 2022, Super Group cut its year guidance, which was already withdrawn earlier in May. 
In May $SGHC fell 23%, losing $942M+ shareholder value, and in August $SGHC fell 12%, wiping out $343M of its market cap. 
Investors may suspect Super Group hiding business prospects issues, which led to its losses.
On May 25, 2022, Super Group withdrew its fiscal 2022 guidance, stating that given the volatility uncertainties, the Company would provide an update with the Q2 in August. 
Then, on August 11, 2022, Super Group announced its Q2 22 financial results and provided fiscal 2022 guidance, expecting lower revenue and adjusted EBITDA. 
The Company attributed the reduced guidance to multiple economic and regulatory challenges, together with some further degree of post-COVID normalization.
On this news, in May $SGHC fell 23.3% and lost over $942 million of its market capitalization, seriously damaging shareholders. In August, $SGHC fell 12.2% and lost over $343 million of its market capitalization, further damaging shareholders.

Considering all the information, investors might have grounds to suspect that Super Group failed to timely disclose its business prospect issues, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

08/11/2022

Super Group (SGHC) Withdrawn 2022 Guidance Case

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