New episode in the confrontation of Grifols forehead Gotham City Researchthe analysis house that issued harsh reports against the accounting of the Catalan pharmaceutical company, and General Industrial Partners (GIP)its investment arm with bearish strategies. The entity accused of having defamed the Spanish company has submitted this Friday to the court of the southern district of New York (United States) its allegations against the lawsuit that Grifols filed for defamation.
Gotham, represented by the firm Miller Korzenik Sommers Raymanhas requested the file of the case (‘notice of motion to dismiss’) that was opened after the publication of various reports that questioned the Catalan company’s accounting and which subsequently resulted in a very sharp drop in the stock market. The blood product firm fell 40% on the stock market during a single session.
In its writing, consulted by ‘elEconomista.es’, the defendant explains that the “allegedly defamatory” statements contained in the Gotham report of January 9, 2024 (‘Grifols SA: Scranton and the Undisclosed Debts’) and in subsequent reports (he published new documents in February, March and May) are “protected opinions” and are not actionable.
In Gotham’s reasoning the National Securities Market Commission (CNMV) and the report issued on March 21 of this year. In this work, according to the firm founded by Daniel Yuthe conclusions include defects in Grifols’ financial statements that the Gotham report had previously identified. The stock market supervisor then mentioned “relevant deficiencies” in two areas: the detail and accuracy of the breakdowns and explanatory notes, on the one hand, and the presentation of alternative performance measures referring to ebitda and debt/ebitda indebtedness, on the other.
Gotham’s allegations come a few days after those made by Grifols’ defense. The quoted one, which has hired its reference firm, Proskauer Rose, in the United Statesheld on December 9 that the defendants’ motion to dismiss should be “denied in its entirety” and, in fact, requested authorization to “modify, even to add new allegations” related to the latest statements of the stock market supervisor and the pending criminal investigation.
Regarding this last aspect, Grifols refers to the judicial battle that is being waged in parallel in Spain and maintained by the Anti-Corruption Prosecutor’s Office against GIP and Gotham. To do this, the firm of Yu and Cyrus de Weck, his partner, has hired the services of the law firms SLJ Abogados and Romero Rey & Benito Sancho (RRBS) to defend himself in the Spanish courts. RRBS will take charge of the cause Manuel Romero ReyState lawyer on leave, while on behalf of SLJ he will Daniel Jimenezformerly of Ashurst, and known for having defended international investors in the Popular cause.
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