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TGLS.US
id: 1015, Created by , Scout

Tecnoglass (TGLS) Investigation of Undisclosed Related-Party Transactions Case

  • In December 2021, Hindenburg Research reported that investigation of Tecnoglass (TGLS) discovered suspicious transactions, and Company’s financial results could be distorted.
  • On it, $TGLS fell 36%, losing $578M+ of shareholder value.
  • Investors may have grounds to suspect that Tecnoglass engaged in unlawful accounting and reporting practices, which led to their losses.
On December 9, 2021, Hindenburg Research reported that investigation of Tecnoglass included review of US and Colombian records and documents going back decades, and identified management and numerous undisclosed related party transactions that call the company’s reported financial results into question.

On this news, $TGLS fell 36% and lost over $578 million of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect that Tecnoglass intentionally failed to disclose material financial information, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 December 2021
Collecting participants…

Tecnoglass Inc

Tecnoglass Inc., through its subsidiaries, designs, produces, markets, and installs architectural systems for the commercial and residential construction industries in Colombia, the United States, ...

    Ticker
    TGLS.US
    ISIN
    KYG872641009
    CIK
    1534675
    Sector
    Basic Materials
    Industry
    Building Materials
    Country
    USA
    Address
    3550 NW 49th Street, Miami, FL, United States, 33142