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amusingly: back in 2019, when journalists pointed out irregularaties in the company's accounts, the German Financial regulator's reaction was to ban short selli
by blibble 6y ago
amusingly: back in 2019, when journalists pointed out irregularaties in the company's accounts, the German Financial regulator's reaction was to ban short selling of their shares... and then issue legal proceedings against the journalists
> On Monday, BaFin banned further short selling of shares in Wirecard, the Dax-listed payments services group. The stock has dropped steeply after FT reports raised questions over the validity of accounts. The German financial regulator said its first ever ban on shorting a single stock was needed to prevent a loss of confidence in financial markets.
https://www.ft.com/content/f04793df-43a2-4d69-a39f-e04dac36ce8e https://www.ft.com/content/f04793df-43a2-4d69-a39f-e04dac36c... has the full details (but paywall)
- deleted 6y ago[deleted]
- justinclift 6y agoNon-paywalled version: https://archive.vn/VAuC7 https://archive.vn/VAuC7
- C1sc0cat 6y agoAnd sadly that attitude is why you got the Bunga Bunga Parties scandal that VW and IG Metal Where involved in.
- Kalium 6y agoGovernments and regulators don't always act in a clear-headed way when a company seen as a national champion is involved. Often the fear of bringing down political wrath, making a mess of national prestige, and more crop up even when explicit political meddling is absent. A company that understands it's in such a position is, IMO, more likely to misbehave because they know the odds of there being consequences are much lower.