THE CNMV (National Securities Market Commission) opened disciplinary proceedings against Gotham City and one hedge fund for market manipulation and for failure to comply with the regulations relating to investment recommendations in the event of GrifolsHe also filed a lawsuit against the company itself for deficiencies in its accounting information, discovered precisely as a result of the Gotham reports.
According to a press release from the CNMV, the first file refers to “Gotham and GIP [el citado hedge fund] for the possible commission of a very serious violation typified in article 297.2.b) of the LMVSI1, for non-compliance with article 15 of the MAR2, for having exercised a practice of market manipulation of those described in Article 12.1.b) of the aforementioned Regulation, by the concerted use of fictitious mechanisms or any other form of deception or artifice aimed at influencing the price of Grifols shares, with the report published on January 9, 2024.
That is, the “stock market police” understand that Gotham’s first report denouncing Grifols’ accounting practices, which caused its share price to collapse, could have been a deliberate deception precisely to provoke this movement of shares and profit from it.
