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 $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.

Then on April 15, Temenos announced completion of independent examination of Hindenburg’s report of February 15, 2024.
On April 18, 2024 Hindenburg Research published a new report in response to the April 15 disclosure, reasserting its accusations made in February, now based on the disclosed information.
On it, $TEMN fell 10% over the week of April 15, further damaging shareholders.

Considering all the information, investors might have grounds to suspect Temenos of false reporting, 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,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

02/15/2024

Temenos AG (TMNSF) Major Accounting Irregularities Case

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