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TMNSF.US
id: 1103

Temenos AG (TMNSF) Major Accounting Irregularities Case

  • On February 15, 2024, Hindenburg Research (“Hindenburg”) published a report accusing Temenos (TMNSF) of manipulated earnings and major accounting irregularities.
  • On it, $TEMN fell 24%, losing most of shareholder value. losing $1.6B+ of shareholder value.
  • Investors may have grounds to suspect Temenos of fraud, which led to their losses.
On February 15, 2024, Hindenburg Research published a report following a 4-month investigation into Temenos. The report stated that the investigation uncovered manipulated earnings and major accounting irregularities, including
  • Evidence of roundtripped revenue;
  • Sham partnerships;
  • Rampant pulling forward of contract renewals, backdated contracts;
  • Excessive capitalization of seemingly non-existent R&D investments.
On this news, $TEMN fell 24%, and lost over $1.6 billion of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Temenos of manipulating its 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
15 February 2024
Collecting participants…

Temenos AG

Temenos AG develops, markets, and sells integrated banking software systems to banking and other financial institutions worldwide. Its Temenos Banking Cloud helps banks to offer open banking servic...

    Ticker
    TMNSF.US
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    2 Rue de L?Ecole-de-Chimie, Geneva, Switzerland, 1205